Vitesse - Options Backdating Saga Continues

Tomorrow’s Saturday edition of the WSJ has a short article on Vitesse Semiconductor (VTSS) and the cancellation of Monday’s earnings call.

According to a release made today by Vitesse, the suspension of three executives was related to the “integrity of documents” involving its stock-option program. They also cancelled the earnings release and call scheduled for Monday.

The announcement, made Thursday night, came two days after Vitesse placed CEO Louis R. Tomasetta, its chief financial officer and an executive vice president on administrative leave and said it established a special committee of directors