Redback Networks Responds to Option-Related Inquiries
June 30 2006 - 8:43PM
Business Wire
Redback Networks, Inc. (NASDAQ:RBAK) today announced that it has
received an informal request from the Securities and Exchange
Commission for information on historical stock option grant
practices. Redback is voluntarily responding to this request.
Additionally, the Company has received a subpoena from the United
States Attorney for the Northern District of California requesting
documents related to the Company's historical stock option
practices. Redback intends to cooperate fully with the U.S.
Attorney's Office in connection with this subpoena. The Company's
Audit Committee of the Board of Directors has commenced an internal
review and analysis of the Company's historical option grant
practices. This internal review is continuing. About Redback
Networks Redback Networks Inc. is a provider of next-generation
broadband networking systems designed to enable carriers and
service providers to build Smart Broadband Networks that provide
IP-based services to consumers, businesses and wholesale customers.
For more information, visit Redback Networks at www.redback.com.
REDBACK and SmartEdge are trademarks registered at the U.S. Patent
and Trademark Office and in other countries. SMS and NetOp are
trademarks of Redback Networks Inc. All other products or services
mentioned are the trademark, service marks, registered trademarks
or registered service marks of their respective owners.
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