NEW ORLEANS, June 12, 2006 (PRIMEZONE) -- Kahn Gauthier Swick, LLC ("KGS") announces the launch of the Internet's most comprehensive website dedicated to tracking the illegal backdating of options grants by U.S. corporations. KGS had previously created the nation's first privately funded independent Options Pricing Investigations Division, and has now launched a website detailing its initial findings. This website is free, and can be viewed at http://www.kglg.com/options/pricing-investigation-division.asp. The KGS options pricing scorecard provides an up-to-date listing of the investigations into the growing number of companies now being investigated by KGS' Options Pricing Investigations Division, the SEC and/or the Justice Department, for improperly manipulating the prices of executive option grants.
Companies that have either received a letter of inquiry from the SEC, have been contacted by U.S. attorneys, have announced investigations and/or have otherwise drawn the attention of the KGS Options Pricing Investigations Division include the following:
-- Brooks Automation Inc. (Nasdaq: BRKS)
-- F5 Networks Inc. (Nasdaq: FFIV)
-- KLA-Tencor Corp. (Nasdaq: KLAC)
-- Power Integrations Inc. (Nasdaq: POWI)
-- Affiliated Computer Services (NYSE: ACS)
-- Altera Corp. (Nasdaq: ALTR)
-- American Tower Corp. (NYSE: AMT)
-- Analog Devices (NYSE: ADI)
-- Apollo Group (Nasdaq: APOL)
-- Applied Micro Circuits (Nasdaq: AMCC)
-- Broadcom Corp. (Nasdaq: BRCM)
-- Brocade Comm. Sys (Nasdaq: BRCD)
-- Caremark Rx. Inc. (NYSE: CMX)
-- CNet Networks Inc. (Nasdaq: CNET)
-- Comverse Technology Inc. (Nasdaq: CMVT)
-- Cyberonics (Nasdaq: CYBX)
-- Delta Petroleum Corp. (Nasdaq: DPTR)
-- Equinix (Nasdaq: EQIX)
-- HealthSouth (OTC: HLTH.PK)
-- Intuit (Nasdaq: INTU)
-- Jabil Circuit Inc. (NYSE: JBL)
-- Juniper Networks Inc. (Nasdaq: JNPR)
-- L-3 Communications (NYSE: LLL)
-- M-System Flash Disk (Nasdaq: FLSH)
-- Maxim Integrated Products (Nasdaq: MXIM)
-- McAfee Inc. (NYSE: MFE)
-- Meade Instruments (Nasdaq: MEAD)
-- Medarex Inc. (Nasdaq: MEDX)
-- Mercury Interactive Corp. (OTC:MERQ.PK)
-- Michaels Stores (NYSE: MIK)
-- MicroStrategy Inc. (Nasdaq: MSTR)
-- Monster Worldwide (Nasdaq: MNST)
-- Nyfix Inc. (OTC: NYFX.PK)
-- Openwave Systems Inc. (Nasdaq: OPWV)
-- Quest Software (NYSE: Q)
-- Rambus Inc. (Nasdaq: RMBS)
-- Renal Care (NYSE: FMS)
-- RSA Security Inc. (Nasdaq: RSAS)
-- Safenet Inc. (Nasdaq: SFNT)
-- Sanmina-SCI (Nasdaq: SANM)
-- Semtech Corp. (Nasdaq: SMTC)
-- Sepracor Inc. (Nasdaq: SEPR)
-- Stolt-Nielsen (Nasdaq: SNSA)
-- Sycamore Networks Inc. (Nasdaq: SCMR)
-- Trident Microsystems (Nasdaq: TRID)
-- UnitedHealth Group (NYSE: UNH)
-- Vitesse Semiconductor Corp. (Nasdaq: VTSS)
-- Zoran Corp. (Nasdaq: ZRAN)
The backdating of the exercise price of options is illegal and improper and violates each company's internal procedures as well as state and federal law. Such practices also constitute accounting fraud in violation of the Securities Act of 1934, Internal Revenue Service and tax fraud and breach of fiduciary duty to shareholders. The manipulation of options exercise prices results in lower payments to companies and it also results in those companies under-reporting compensation expenses in violation of GAAP. As companies are exposed for backdating options, experts predict that restatements could also follow in some cases.
If you hold shares of any of the above-referenced companies and wish to discuss your legal rights, you may e-mail or call the Options Pricing Investigations Division of KGS, without obligation or cost to you. You may contact Lewis Kahn or our KGS Investigation Division Representatives toll free 1-(866)-312-9134, or by email at lewis.kahn@kglg.com.