This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Maxim Gets Subpoena on Options

Maxim Integrated Products (MXIM - Get Report) joined the growing list of companies saying that regulators want more information about past awards of stock options.

The company said Monday that it received a subpoena from the U.S. Attorney for the Northern District of California asking for documents relating to its option grants and practices. Maxim plans to cooperate with the request.

Additionally, Maxim said it was cooperating with a similar, previously disclosed request from the Securities and Exchange Commission. The integrated circuits maker has authorized a review of its option grants, which is being conducted by a special committee of the board with the assistance of outside independent legal advisers.

Dozens of companies, many of them members of the tech sector, are voluntarily examining their option programs or getting requests from regulators about their past awards. In several cases, questions have arisen about whether some companies backdated options for employees in order to have them correspond to low share prices.

Maxim released the information after the markets closed at 1 p.m. EDT in observance of the Independence Day holiday in the U.S. Shares of Maxim rose 14 cents, or 0.4%, to $32.25 in regular trading.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
MXIM $34.58 0.00%
AAPL $124.75 0.00%
FB $80.78 0.00%
GOOG $524.05 0.00%
TSLA $206.79 0.00%


DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs