SEC Investigates Cablevision's Stock Options

  • August 18, 2006
The U.S. Attorney's Office and the Securities and Exchange Commission are investigating certain discrepancies in Cablevision's stock-options grants. In a filing with the SEC Wednesday, Cablevision said that since revealing the discrepancies in its Aug. 8 filing, it "has since been informed that the SEC and the U.S. Attorney's Office are each conducting an investigation into these matters." Cablevision also faces shareholder derivative lawsuits that have been filed against some of its current and former executives and directors, which allege "breaches of fiduciary duty and unjust enrichment relating to practices with respect to the dating of stock options."

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