"Since we were confident that our stock option granting practices were appropriate, and we met the filing deadlines for our SEC financial reporting requirements and had no restatements of our previous historical filings, it was always our expectation that the SEC would terminate its investigation. We look forward to putting this matter behind us," said Robert H. Swanson, Jr., Executive Chairman.
Linear Technology previously disclosed that the company had reviewed its historical option-granting practices and option grants with the assistance of outside counsel and an independent forensic accounting firm. The primary scope of the review covered the periods for calendar year 1995 through 2006. Based on the findings of the review, the company concluded that there was no need to restate any previously filed financial statements. The review found no evidence of fraud or misconduct of any kind in the Company's practices in granting stock options. None of the Company's SEC filings were delayed due to the review.
Linear Technology Corporation, a manufacturer of high performance linear integrated circuits, was founded in 1981, became a public company in 1986 and joined the S&P 500 index of major public companies in 2000. Linear Technology products include high performance amplifiers, comparators, voltage references, monolithic filters, linear regulators, DC-DC converters, battery chargers, data converters, communications interface circuits, RF signal conditioning circuits, and many other analog functions. Applications for Linear Technology's high performance circuits include telecommunications, cellular telephones, networking products such as optical switches, notebook and desktop computers, computer peripherals, video/multimedia, industrial instrumentation, security monitoring devices, high-end consumer products such as digital cameras and MP3 players, complex medical devices, automotive electronics, factory automation, process control, and military and space systems. For more information, visit www.linear.com.
Web site: http://www.linear.com//
