CEC3066
10-21-2006, 10:59 AM
I got the following article from a freind who found it online archived at findarticles.com they got it from Nations Restaurant News:
Irving, Texas -- CEC Entertainment, owner of the 522-unit Chuck E. Cheese's brand, on Aug. 11 disclosed that the U.S. Securities and Exchange Commission had begun an informal inquiry into the history of CEC's stock option granting practices.
The Irving-based company, which owns 477 of the pizza chain's outlets, also said it was missing the Aug. 11 deadline for filing results for the quarter ended July 2 because its audit committee had not completed a previously reported internal review of the option practices.
Federal authorities are looking into the possibility that officials of scores of companies may have illegally backdated stock purchase options granted to executives in order to boost their value, and executives of one technology company have been indicted.
The Cheesecake Factory Inc. also is the subject of an SEC review, which began this month after the Calabasas Hills, Calif.-based chain launched an internal review of its options granting practices, aided by outside legal counsel.
Irving, Texas -- CEC Entertainment, owner of the 522-unit Chuck E. Cheese's brand, on Aug. 11 disclosed that the U.S. Securities and Exchange Commission had begun an informal inquiry into the history of CEC's stock option granting practices.
The Irving-based company, which owns 477 of the pizza chain's outlets, also said it was missing the Aug. 11 deadline for filing results for the quarter ended July 2 because its audit committee had not completed a previously reported internal review of the option practices.
Federal authorities are looking into the possibility that officials of scores of companies may have illegally backdated stock purchase options granted to executives in order to boost their value, and executives of one technology company have been indicted.
The Cheesecake Factory Inc. also is the subject of an SEC review, which began this month after the Calabasas Hills, Calif.-based chain launched an internal review of its options granting practices, aided by outside legal counsel.