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Feds Sue Maxim For Backdating Options

SAN FRANCISCO (CN) - The CEO and CFO of Maxim Integrated Products, a Silicon Valley semiconductor company, backdated stock options grants for 10 consecutive quarters, defrauding shareholders, enriching themselves and company executives, and violating accounting rules and securities laws, the SEC claims in two federal lawsuits. The SEC sued Maxim and former CEO John Gifford in one complaint, and former CFO Carl Jasper in the other. See a sample complaint.

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