Telecommunications equipment maker Sycamore Networks Inc. disclosed that its stock-option woes are growing deeper, with a federal grand jury subpoena coming on top of an ongoing U.S. Securities and Exchange Commission (SEC) probe.
Technology can still create new fortunes, according to Forbes magazine's 2006 annual list of the world's billionaires. The founder of Indian software giant Infosys Technologies Ltd. and the top executives of Taiwan's High-Tech Computer Corp. (HTC) and Via Technologies Inc. entered the list for the first time over the past year, as Microsoft Chairman and Chief Software Architect Bill Gates held on to the top spot and the founders of Google got richer.
Canadian smart phone maker and NTP Inc. have settled their long-standing legal battle, with RIM paying NTP US$612.5 million to settle all of NTP's patent claims against it.
Silicon Graphics Inc. (SGI) will lay off about 250 employees, or 12 per cent of its work force, in a restructuring aimed at cutting costs amid continuing operating losses. The server and visualization systems company also announced Friday that Chief Financial Officer (CFO) Jeff Zellmer and Chief Operating Officer (COO) Warren Pratt have resigned to pursue personal interests.