Monster May Restate

Monster Worldwide (MNST) said it may need to restate earnings from 2005 and prior years to fix accounting errors related to stock-option grants.

The disclosure comes just a month after the online jobs site was told by regulators to preserve all relevant information in anticipation of a request for documents in connection with an informal investigation of stock-option grants.

Monster previously announced that a committee of independent members of its board has been conducting an internal review and analysis of all stock-option grants previously issued by the company. The committee of independent directors has retained independent outside legal counsel.

Monster said Tuesday that it may not be able to make a timely quarterly filing with regulators as its review of options practices continues. ...