SEC Tells Brooks Not To Do It Again

WASHINGTON (CN) - The SEC settled charges accusing semiconductor company Brooks Automation of fraudulently backdating $64.5 million in stock options for its executives without properly reporting them, but apparently will not ask Brooks to do anything but promise not to do it again.

The SEC in 2007 accused Brooks CEO Robert J. Therrien of enriching himself and other Brooks insiders with millions of dollars in backdated stock options, and filing false financial reports.

The commission said today that its no-penalty deal with the corporation was based in part on Brooks' cooperation with the SEC investigation.

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