Rambus (RMBS)

[Threejack]

Hey BBMA57LP,

How about that. First, the investigation is done by the BoD Audit Committee with outside forensic accountants. Then, the BoD appoints an SLC to review the legal claims related to the stock option investigation with help from independent counsel. So, looks like at least some of the restatement delay is a result of the SLC and its negotiations with former officers of Rambus. Talk about a cautious approach. Must have cost a bundle, but will be worth every penny if it resolves this options backdating mess. Can't wait to hear about the remedial measures management will implement for future equity awards.

Can't know for sure without reading the SLC report, but imagine the 2.7MM relinquished options are in addition to the 2.7MM options turned back by Mr. Tate last January. My guess is this new batch is the aggregate from all settlements with the other former officers. Plus, appears Rambus received $6.5MM in cash and cash equivalents. Small price to pay for those former officers to settle with Rambus.

Wonder if Mr. Larsen has some special culpability or simply refused to settle on Rambus's terms? Whatever the reason to single him out for continued litigation, it is good to see Rambus acting aggressively. Also, good to see the SLC is fully independent of Rambus management. Hope Judge Fogel approves of the settlements and dismisses the derivative litigations.

Up to Messrs. Hughes and Rishi to get the restated financials filed promptly. No more excuses.

Just my opinion.

Threejack

P.S. Awesome work you did reporting from the courtroom!