Cnet and SEC go “formal”…

I posted a story early on Tuesday morning on Cnet disclosing that the SEC  had elevated its options probe from “informal” to “formal.” The company also revealed that some number of unnamed former executives had been subpoenaed. This apparently happened in May, but it was just disclosed Tuesday in a 10-Q filed by Cnet, way way way down in the filing.

How far down? Apparently some folks at the company didn’t know about it, and neither did their outside PR agency. A flak reached me mid-morning to insist the story was wrong and that all this had happened in 2006. In fact, the original federal probe started in 2006. But this new development happened in May 2007, I was quite sure, I told her. I was on my way into the office, and when I got in, I emailed her the portion of the 10-Q with the relevant information.


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