SEC Opens Formal Investigation of IBM
An AP newswire article by Brian Bergstein, via Yahoo! News, reports that:
Federal investigators have racheted up their probe of how International Business Machines Corp. advised Wall Street about stock option expenses in the first quarter of 2005, the technology giant disclosed Thursday.
The Securities and Exchange Commission opened an informal investigation of the matter last June, but Armonk, N.Y.-based IBM said the agency had informed the company Wednesday that the probe is now formal.
That means the SEC can issue subpoenas for documents rather than just requesting them. The step often occurs in the course of an agency investigation.
posted by Fergie @ 1/12/2006 05:33:00 PM
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