The task force is currently investigating several Bay Area companies to determine the extent of alleged efforts to defraud shareholders in the dating and awarding of stock option grants, according to a statement released by the U.S. Attorney's Office. The task force includes members of the U.S. Attorney's Office and the FBI, the statement said.

"Falsification or backdating of financial documents may call the integrity of companies' financial statements into question, can constitute fraud on the company, shareholders, and the market, and may give rise to tax violations," said U.S. Attorney Kevin V. Ryan, who is heading the task force.

Dozens of U.S. companies have been implicated in a growing scandal over historical stock options practices. The scandal centers on the concept of backdating stock options grants—retroactively granting stock options on dates when a company's stock price is relatively low, thus increasing the option holder's potential for profit as the share price subsequently climbs.

The majority of companies coming under scrutiny for backdating are based in the Bay Area, where stock options have traditionally been a staple of Silicon Valley executive compensation packages.

"We will evaluate the facts of each case, and we will bring criminal charges when appropriate," Ryan said.

Several companies, including heavyweights Altera Corp., KLA-Tencor Corp. and Marvell Technology, have acknowledged receiving subpoenas from the U.S. Attorney's Office here connected to stock options probes. A spokesperson for the U.S. Attorney's Office told EE Times Friday (July 14) that several investigations are in progress, but declined to name the companies or specify the number of current investigations.

The U.S. Attorney for the Eastern District of New York is also investigating companies implicated in the stock options scandal, including fab automation supplier Brooks Automation Inc.

The task force is composed of four members of the U.S. Attorney's Office and four FBI supervisors, along with several special agents assigned throughout the Bay Area, according to the statement.

"Although not all of the allegations will rise to the level of criminal prosecution, the FBI has a duty to the investing public to examine whether companies, both in the past and present, are violating securities laws," said Arthur Balizan, FBI acting special agent in charge. "Illegally backdating options give the company insiders an unfair advantage over the investing public and contributes to shareholders' lack of trust in those executives who are running these companies."

In other stock options scandal news, communications semiconductor supplier Broadcom Corp. said Friday it plans to restate results for the past five years and record additional non-cash expenses of more than $750 million related to granting stock options to employees.

EE Times has created an archives page containing a collection of stories chronicling unfolding events related to the stock options controversy, which has ensnared a number of companies.