SEC Closes Investigation of THQ
The THQ [http://www.sec.gov/]has drawn to a closer, the company announced today.
THQ announced [http://www.escapistmagazine.com/news/view/67512-THQ-Option-Investigation-Closes]in January 2007 that an internal investigation into the company's stock option practices had found no evidence of fraud, but that financial reports going back to 2002 would be adjusted to compensate for errors in accuracy. The company also indicated at the time that it would cooperate with an SEC investigation into stock options backdating.
A brief statement released today said, "THQ today announced that the staff of the United States Securities and Exchange Commission has notified THQ that its investigation of the company's stock option grant practices has been completed and that the staff does not intend to recommend any action against THQ to the Commission."
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The THQ [http://www.sec.gov/]has drawn to a closer, the company announced today.
THQ announced [http://www.escapistmagazine.com/news/view/67512-THQ-Option-Investigation-Closes]in January 2007 that an internal investigation into the company's stock option practices had found no evidence of fraud, but that financial reports going back to 2002 would be adjusted to compensate for errors in accuracy. The company also indicated at the time that it would cooperate with an SEC investigation into stock options backdating.
A brief statement released today said, "THQ today announced that the staff of the United States Securities and Exchange Commission has notified THQ that its investigation of the company's stock option grant practices has been completed and that the staff does not intend to recommend any action against THQ to the Commission."
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