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Technology Stocks : Applied Micro Circuits Corp (AMCC)
AMCC 8.4500.0%Feb 3 4:00 PM EST
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To: bob zagorin who wrote (1803)7/17/2006 5:19:32 PM
From: Loren1   of 1805
 
Bob, it could be worse. Forget about AMCC and stick to Google IMO.
Last Update: 11:20 PM ET Jul 13, 2006

SAN FRANCISCO (MarketWatch) -- Applied Micro Circuits Corp.'s board and nine former officers face a lawsuit alleging improper dating of stock options, company officials said Thursday evening.
A suit filed in U.S. District Court for the Northern District of California alleges stock-options with improper dating were granted to the former officers on five occasions from March 1998 through December 2000, according to a company statement.
In May, the Sunnyvale, Calif. semiconductor company (AMCC : applied micro circuits corp com

Last: 2.17-0.07-3.12%

4:48pm 07/17/2006

AMCC2.17, -0.07, -3.1%) said its audit committee was reviewing its historical option practices. Applied Micro said the voluntary review was in response to recent industry issues.
The U.S. Attorney for the Northern District of California has subpoenaed Applied Micro documents relating to option practices. The U.S. Attorney for the Southern District of California also has begun an investigation.
The Nasdaq notified Applied Micro last month that it was subject to delisting due to a delay in filing its annual report for fiscal 2006. Applied Micro's options review caused the delay.
Applied Micro shares closed Thursday down 2.56% at $2.28.
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