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SEC targets THQ over stock option grants

Joining the growing list of publishers placed under scrutiny by the Securities and Exchange Commission, THQ has confirmed that it will comply fully with the latest stock option enquiry.

Joining the growing list of publishers placed under scrutiny by the Securities and Exchange Commission, THQ has confirmed that it will comply fully with the latest stock option enquiry.

According to a company statement, THQ has already instigated its own internal investigation of its historical stock option grant practices, following widespread media coverage and analyst reports about the option practices of companies across several industries.

With the assistance of outside counsel, THQ's audit committee - comprised of independent directors of the board - will continue its internal review and oversee the company's response to the SEC enquiry.

The move follows similar enquiries targeting troubled publisher Take-Two and more recently, Activision.

As the SEC continues its widespread review of stock option grants and probes allegations of improper practices, the clampdown is likely to extend to several more publishers over the coming months.

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