SEC investigation of Jabil stock option grants is complete

Tampa Bay Business Journal

http://www.bizjournals.com/tampabay/stories/2008/11/24/daily26.html

The Securities and Exchange Commission won’t take any action against Jabil Circuit Inc. after a two-year investigation into stock-option backdating claims.

In a short release to investors, the St. Petersburg electronics and
equipment manufacturer said it received a letter from the SEC’s
Division of Enforcement informing Jabil that its investigation was over
and that it will not pursue the issue any further.

The SEC started an investigation of Jabil (NYSE: JBL) and dozens of
other large public companies in September 2006 after some investors
complained that Jabil provided misleading information to them, and
backdated stock option grants to select officers as part of their
compensation plan.

Soon after, a class-action lawsuit was filed in the U.S. District
Court in Tampa that would represent investors who purchased Jabil
securities between Sept. 19, 2001 and June 21, 2006. That suit was dismissed
by a federal court judge in April 2008 after Jabil agreed to settle it
seven months before by changing its compensation policies and paying
out $700,000 to cover attorney’s fees for the plaintiffs, most of which
Jabil said was covered by insurance.

Jabil eventually restated its 2005 financial statements in light of the company’s policy changes in stock option grants.