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SEC Concludes Linear Technology Inquiry
Securities |
2007/10/02 07:20
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| Linear Technology Inc. said Tuesday that the Securities and Exchange Commission's investigation concerning the integrated circuit maker's historical stock option grant practices is completed and no enforcement action will be taken. Linear Technology previously disclosed that it had reviewed its historical option-granting practices for 1995 through 2006, with the assistance of outside counsel and an independent accounting firm. The company found no evidence of fraud or misconduct, and concluded that there was no need to restate any previously filed financial statements. None of the company's SEC filings were delayed due to the review, Linear said. |
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Class action or a representative action is a form of lawsuit in which a large group of people collectively bring a claim to court and/or in which a class of defendants is being sued. This form of collective lawsuit originated in the United States and is still predominantly a U.S. phenomenon, at least the U.S. variant of it. In the United States federal courts, class actions are governed by Federal Rules of Civil Procedure Rule. Since 1938, many states have adopted rules similar to the FRCP. However, some states like California have civil procedure systems which deviate significantly from the federal rules; the California Codes provide for four separate types of class actions. As a result, there are two separate treatises devoted solely to the complex topic of California class actions. Some states, such as Virginia, do not provide for any class actions, while others, such as New York, limit the types of claims that may be brought as class actions. They can construct your law firm a brand new website, lawyer website templates and help you redesign your existing law firm site to secure your place in the internet. |
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