Wednesday, December 20, 2006

Juniper to Take a Whopping $900M Charge for Options

Stephen Lawson writes on InfoWorld:

Juniper Networks Inc. will take a non-cash charge of about US$900 million in the wake of an investigation that found the company improperly dated employee stock-option grants.

The router and network security vendor on Wednesday announced the completion of a seven-month probe by its audit committee, assisted by independent counsel and forensic accountants. The investigation found that in many cases Juniper chose grant dates for options after the fact, in an effort to give employees the benefit of a better stock price.

More here.


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