Thursday, June 1, 2006
Quest Software Drawn Into Options Investigation
Aliso Viejo-based Quest Software is the latest technology firm being drawn into an industry-wide investigation by the Securities and Exchange Commission on the granting of stock options. Quest said this morning that it has been contacted by the SEC regarding an informal inquiry into Quests's past stock option grant practices. Quest Software is the latest firm to be subject to an inquiry by the SEC, which yesterday also added Applied Micro Circuits Corp., Altera, KLA-Tencor, and Rambus to companies under scrutiny. Camarillo-based Semtech, and Camarillo-based Vitesse have also been subject to the SEC's stock options investigation, with the probe resulting in the firing of the CEO, EVP, and CFO of Vitesse.