fitbabits
08-10-2006, 07:59 PM
GameSpot (http://www.gamespot.com) is reporting that Electronic Arts is being sued by Plumbers & Pipefitters Local No. 572. The allegation concerns stock-options grants.
You can read the full article here (http://www.gamespot.com/news/6155636.html?part=rss&tag=gs_news&subj=6155636).
During the past several months, the Securities and Exchange Commission has opened inquires into over 100 companies, ranging from Apple to Home Depot. The subject of the investigations is whether or not said firms retroactively gave out stock options to employees at an artificially low strike price. If a company's share price is rising, the practice almost guarantees said employees make money off the options.
..........
One publisher who hasn't said whether or not it has been contacted by the SEC is the biggest one of all: Electronic Arts. Today, though, the company filed an 8-K Form with the SEC saying that is being sued by a pension fund over its stock-options grants--a pension fund for plumbers, no less.
Editor's Note: The original headline of Electronic Arts Sued by Plumber's Union! was replaced with fitbabit's initial idea instead
You can read the full article here (http://www.gamespot.com/news/6155636.html?part=rss&tag=gs_news&subj=6155636).
During the past several months, the Securities and Exchange Commission has opened inquires into over 100 companies, ranging from Apple to Home Depot. The subject of the investigations is whether or not said firms retroactively gave out stock options to employees at an artificially low strike price. If a company's share price is rising, the practice almost guarantees said employees make money off the options.
..........
One publisher who hasn't said whether or not it has been contacted by the SEC is the biggest one of all: Electronic Arts. Today, though, the company filed an 8-K Form with the SEC saying that is being sued by a pension fund over its stock-options grants--a pension fund for plumbers, no less.
Editor's Note: The original headline of Electronic Arts Sued by Plumber's Union! was replaced with fitbabit's initial idea instead