SEC Completes Investigation of ScanSource Stock Option Granting Process
25 1월 2008 - 7:25AM
Business Wire
ScanSource, Inc., (NASDAQ: SCSC), a leading international
value-added distributor of specialty technology products, announced
today that it received written notice from the United States
Securities and Exchange Commission (�SEC�) that its investigation
concerning the company's historical stock option grant practices
had been completed and that no enforcement action was recommended.
�Since we were confident that the independent review process of our
historical stock option grant practices was appropriate, and that
the special committee conducted a thorough investigation, it was
always our expectation that the SEC would reach this conclusion. We
look forward to putting this matter behind us and focusing on
serving our business partners,� said Mike Baur, chief executive
officer, ScanSource, Inc. As previously announced, ScanSource
received an informal request from the SEC for information on its
historical stock option grant practices. A special committee
consisting of independent members of ScanSource�s Board of
Directors conducted a review of these practices. On January 19,
2007 ScanSource announced the completion of this independent
review, which did not conclude that current senior management, the
former CEO, or the members of the Compensation Committee engaged in
intentional misconduct in the administration and oversight of the
Company�s stock option program. ScanSource presented the results of
this independent review to the SEC. About ScanSource, Inc.
ScanSource, Inc. {NASDAQ:SCSC} is a leading international
distributor of specialty technology products. The Company markets
specialty technologies through�four sales units:�ScanSource
[automatic identification and data capture�(AIDC) and point-of-sale
(POS) products];�Catalyst Telecom�(Avaya communications products);
ScanSource Communications (video conferencing, telephony and
communications�products);�and ScanSource Security
Distribution�(electronic security products). ScanSource serves the
North America marketplace and has an international segment, which
sells AIDC and POS products, in Latin America and Europe. Founded
in 1992, the company ranks #956 on the Fortune 1000. For more
information, call the toll-free sales telephone number at
800.944.2432 or visit www.scansourceinc.com.
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