MILPITAS, Calif., June 28 /PRNewswire-FirstCall/ -- Linear Technology Corporation , a leading supplier of high performance analog integrated circuits, today announced that on June 26, 2006, the United States Attorney's Office for the Northern District of California has requested certain information on the Company's practices and procedures regarding its past stock option grants. The Company will comply quickly and completely with this request.
On May 24, 2006, the Company previously reported that derivative lawsuits were filed against its Board of Directors and certain officers alleging improper back dating. The Company's response was: "The Company grants its stock options on a quarterly basis in connection with its regularly scheduled board meetings, except for infrequent board-approved option grants for certain new hires," said Robert H. Swanson, Jr., Executive Chairman. "Board meetings are scheduled far in advance to coincide with the Company's quarterly earnings releases. The Company does not use a look back in connection with its stock option grants."
The Company intends to defend the lawsuits vigorously. The Company does not anticipate that the resolution of these matters will have a material effect on its results of operation or financial condition.
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, power supply modules, 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 http://www.linear.com/.
