SEC investigating 100 firms

WASHINGTON, DC – The Securities and Exchange Commission (SEC) is in the process of investigating over 100 firms suspected of dubious stock option grants to employees, a Senate committee has heard.

Addressing senators at a Committee on Banking, Housing and Urban Affairs hearing, Christopher Cox, chairman of the SEC revealed that: "The SEC’s division of enforcement is currently investigating over 100 companies concerning possible fraudulent reporting of stock option grants.

"The companies are located throughout the country and include Fortune 500 companies, as well as smaller cap issuers, and they span multiple industry sectors. You should not expect all these investigations will result in

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