This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

VeriSign to Miss Filing Deadline

VeriSign (VRSN - Get Report) will miss the filing deadline for its annual report, due Thursday, because of its ongoing stock options investigation.

The Internet infrastructure company also said it would miss the March 16 extended deadline to file its 10-K with the Securities and Exchange Commission.

VeriSign said previously that it will need to restate financial statements for the years 2002 to 2005 and for the first quarter of 2006 to record additional expenses, because past stock options grants had incorrect measurement dates. Charges for the periods between 2002 and 2005 should be less than $200 million, the company has said.

In January, the group of directors reviewing VeriSign's option grant practices completed its investigation .

But in Thursday's filing, VeriSign said that "the company has not completed the audit of its restatement as of the date of this disclosure. The company will not be able to file its Form 10-K until the restatement audit is completed."

Shares of the Mountain View, Calif.-based company shed 2.1%, or 54 cents, to $24.76 in recent trading.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
VRSN $66.57 -0.60%
AAPL $124.25 -0.14%
FB $81.66 -0.67%
GOOG $542.56 -0.99%
TSLA $187.59 -0.63%

Markets

DOW 17,698.18 -77.94 -0.44%
S&P 500 2,059.69 -8.20 -0.40%
NASDAQ 4,880.2280 -20.6570 -0.42%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs