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Strategies & Market Trends : Option Granting Practices and exploits -- Ignore unavailable to you. Want to Upgrade?

To: Glenn Petersen who wrote (64)	10/23/2006 8:47:14 PM
From: RockyBalboa	Respond to of 165

5:00PM Cirrus Logic reviews historical stock option grants (CRUS) 6.99 +0.01 : Co announces that it is voluntarily reviewing its historical stock option granting practices and related accounting matters. In September 2006, CRUS, at the direction of the Audit Committee of the co's Board of Directors, performed an initial internal review of selected stock option grants. In the course of that review, the co discovered information that raises potential questions about the measurement dates used to account for certain stock option grants. At the recommendation of the Audit Committee, a Special Committee of the Board of Directors has been formed to conduct a more detailed review of past stock option grants, the timing of those grants and related accounting matters. The Special Committee has engaged independent outside counsel to conduct this review and hopes to complete the review as quickly as possible.