Zoran (NASDAQ:ZRAN), is a developer and marketer of integrated circuit cores (ICs), and embedded software for DVDs, digital cameras, and set-top boxes. It announced that in a letter dated November 2, 2007, the U.S. Securities and Exchange Commission (SEC) notified the company that the staff’s investigation of Zoran’s historical stock option granting practices has been terminated, and that no enforcement action against Zoran has been recommended to the Commission. Zoran’s NASDAQ listing was in jeopardy, as it delayed publishing its financial reports while the SEC investigation was on-going.
This should help lift a cloud that was hanging over the company, and allow it to focus solely on executing its business model.
My man, Zack “FACEBOOK” Miller had a great piece on Zoran, and he is really getting excited about the company.
Take a good look at Zoran, as it continues to be an attractive long-term play.
Disclosure: The author has a position in ZRAN as of November 9, 2007.