Intuit: No Options Problems

The financial software company says that its probe into stock-options grants finds no irregularities.
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As far as options backdating goes,

Intuit

(INTU) - Get Report

has given itself a clean bill of health.

The financial-software company announced Wednesday that it has concluded an internal investigation into its past stock-options grants and found no evidence of fraud.

The probe, overseen by a panel of the company's independent directors, looked at the company's grants dating back to August 1997.

As a result, the company does not plan to restate any of its past quarterly or annual reports and intends to report its fiscal fourth-quarter results on Aug. 22, as previously announced.

The company has already reported the results of its inquiry to the

Securities and Exchange Commission

and to the U.S. Attorney's Office for the Northern District of California, both of which have launched their own probes of Intuit's options practices.

Intuit's announcement comes after a similar one Wednesday from

Xilinx

(XLNX) - Get Report

. Like Intuit,

Xilinx's internal probe found no evidence of fraud and the company does not plan to restate its past results.

Both companies were examining their past options grants for examples of backdating, in which corporate insiders are accused of retroactively assigning to options a grant date on which their company's stock was known to have hit a short-term low.

The two companies are among dozens that have been caught up in the scandal. The SEC, for instance, has said that it is probing past grants at some 80 companies.

Intuit became involved in the issue in May, when the Center for Financial Research and Analysis highlighted one of the company's past grants and said that it was potentially backdated.

After the report, the company launched its internal probe, and then was contacted by the

SEC and the

U.S. Attorney's Office.

Shares of Intuit were up 48 cents, or 1.5%, to $32.01 in after-hours trading following the announcement. The company's stock closed regular trading up 42 cents, or 1.4%, to $31.53.