September 20, 2007
Dear Sir,
Cree, Inc (symbol CREE) would like this email to serve as our official comment regarding File Number S7-19-07 (Amendment to RegSHO / elimination of the market maker exception). First, let us express our appreciation for your hard work and tireless efforts to ensure that our markets operate in a fair and orderly manner.
As the saying goes, "There are exceptions to every rule", and this is not always a bad thing. However, it’s our view that the options market maker exception has resulted in abuse of Reg SHO, and consequently, has had an adverse impact on our shareholders. As a company whose stock has been on the Threshold Security List persistently, and given our fiduciary duty to act in the best interest of our shareholders, we are strongly in favor of the proposal to eliminate the options market maker exception. Please do not hesitate to contact me with any questions.
Regards,
Raiford Garrabrant, CFA
Director, Investor Relations
Cree, Inc.