XM Satellite Radio Holdings Inc. said today that the Securities and Exchange Commission had completed an investigation into their subscriber data and stock options grants.
The company said that the SEC would not recommend enforcement action. (That's a good thing.)
XM said it had been notified of the decision, which related to an investigation started back in August of last year, by the SEC's enforcement division.
[Reuters]
Gotta be good news to Mel.
the whole thing seemed fishey to me. stock options to whom? and the counting of what subscribers... any way,, the class action has gone away with nothing to report the FTC thing is gone and now this.
All the things that were holding back the stock with the exception of earnings have now been removed.
I suppose this, along with the CRB, was a hurdle necessary for merger...
Dumping of 0.0 and their expensive salaries will be a good thing for XM shares. I would expect a $2+ rise on stock prices when their liquidation is announced.
Way to keep the attention off of my comapny-crippling salary, AC. We need that XM stock as high as we can get it. My raise depends on it. HOO HOO!!!!!!!!!!!!!!!!!!!!
>> Gotta be good news to Mel.
It isn't "news" at all -- after you (Sirius Rich) and Doberman spent months bashing XM for this SEC investigation, the routine FTC investigation and the bogus shareholders suits, all of which were obviously without foundation, the truth comes out and none of them amounted to squat.
Contrast that with SIRI's chronic lying on the subscriber #s, lying to shareholders about cash flow, lying to shareholders about OEM deals, lying to shareholders about what they're paying Stern, the list goes on.
The best news Mel could receive is that the merger is going to be approved which will buy him more time to keep SIRI afloat.