VeriSign takes $160m hit to cover stock option mess up
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As CFO resigns VeriSign's chief financial officer resigned last week as the digital certificates firm announced it would take a $160m hit to cover mishandled stock option grants.â¦
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It could make about $160 million in the US.
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Conrad W. Hewitt, chief accountant of the Securities and Exchange Commission, sought yesterday to clarify the proper accounting for backdated options, reserving the harshest accounting for companies that followed a practice of reducing the exercise price after options were issued.
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Monster Worldwide Inc. , owner of the most-used online job-listing service, said it overstated earnings by $271.9 million in the past nine years because of improperly recorded stock option grants.
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Shares of Motley Fool Stock Advisor recommendation ARM Holdings (Nasdaq: ARMHY) tumbled 19% on Monday in response to the company&#39;s buyout offer initially valued at $913 million
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VeriSign Inc. , an Internet security company, said on Thursday that Chief Financial Officer Dana Evan resigned and the company restated financial reports to account for $160.3 million in stock-based compensation.
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EVP loses his E BEA Systems will restate almost a decade's worth of earnings to the tune of nearly $400m thanks to misallocation of stock to employees.â¦
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- Internet security company VeriSign Inc.  said Chief Financial Officer Dana Evan has resigned and that it filed certain restated reports with U.S. regulators.
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Finding itself amid a wave of technology companies under investigation in both the US and Canada for granting backdated options without reporting their values as charges, RIM announced this morning it may have to restate prior years' earnings up to 2003 to the tune of USD$220 million, with additional restatement of perhaps $5 million per year thereafter.
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The company has earned its nosebleed valuation.
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TechWeb - Investors showed their displeasure with the $200 price cut and subsequent rebate by shaving $11 billion off Apple&#39;s market cap.
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Driving the companyâs loss, which amounts to $31.85 a share, was a $5.21 billion write-down on its portfolio of credit derivatives.
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Business & money: Â· Business reborn after new stock offer accepted  Â· Debt halved as vote ends difficult chapter for firm
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VeriSign Inc.  on Tuesday said it  received a grand jury subpoena from the U.S. Attorney for the  Northern District of California requesting documents relating  to stock option grants and practices.
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The failure to expense stock options is causing distortions and inefficiencies in U.S. labor and capital markets.
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Internet infrastructure vendor VeriSign Inc. today reported net income of $40.3 million for the third quarter of 2004, a reversal of the $31.3 million loss it posted in the same quarter one year earlier.
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explanation of market-timing, further attorney comment. Picks up last graf. Also moving on general news wires. DENVER  _ The former chief executive of Invesco Funds Group has agreed to pay $500,000 to