THQ Becomes Latest SEC Target News
Jon Wilcox
08/08/2006
THQ confirms that the US Securities and Exchange Commission has started an informal inquiry into the company's stock options...
Following in the footsteps of Take-Two Interactive and Activision, THQ has today confirmed that it has become the subject of an informal inquiry by the United States' Securities and Exchange Commission.
The company has confirmed that the inquiry is focusing on stock option grants made between 1996 and the present day, and that it had already begun its own voluntary investigation prior to receiving notification from the SEC.
The issue follows a number of irregularities being investigated by the SEC in what is reported to involve over 60 companies, where stocks were backdated to lower values, thereby enhancing their overall value. It was as a result of such news that THQ launched its own inquiry into the matter.
We'll have more news shortly...