Brooks Automation Gets Subpoenaed

The company is asked for stock grant information.
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The semiconductor equipment maker said late Monday that it received a grand jury document subpoena from the U.S. Attorney for the Eastern District of New York requesting records pertaining to the granting of stock.

Brooks intends to fully cooperate in responding to this subpoena.

It wasn't immediately clear if the document request was related to recent attention from regulators on so-called option grant backdating, in which company executives acquire grants that are deliberately and improperly dated to when shares traded at or near their lows, thereby offering an artificially low strike price and, as a result, a larger potential profit.

Following the announcement, shares of Brooks were off more than 3% in after-hours trading to $11.90 on Instinet.