Cyberonics, Inc‘s (CYBX) former Chairman and CEO Robert P. Cummins, today confirmed recently filed Form 10-Q for the quarter ended October 29, 2010 that he had received a closure letter from the Staff of the U.S. Securities and Exchange Commission [SEC] stating that it had completed its investigation of Cyberonics, Inc.’s stock option practices commenced on June 9, 2006 and that it does not intend to recommend any enforcement action against Mr. Cummins.
CYBX gained $1.18, or 3.95%, to $31.09 at 12:41 p.m. EST in Nasdaq composite trading.
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