On February 15th, the U.S. District Court for the Northern District of Texas granted summary judgment dismissing most of the SEC's stock option backdating lawsuit against former executives of Microtune Inc. The court found that the SEC's claims were barred by the general civil penalties statute of limitations, 28 U.S.C. Sec. 2462, and that the SEC did not meet the requirements of the fraudulent concealment doctrine. The court also found that, with the exception of disgorgement for 'in-the-money' profits from the exercise of backdated stock options, the SEC's claims for relief are penalties for the purposes of Sec. 2462. SEC v. Microtune, Inc.