VeriSign Restatement Tab: $250 Million

The company is evaluating the impact on its internal controls.
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VeriSign (VRSN) - Get Report set plans to restate earnings for the period 2001-2005 to add as much as $250 million in stock-based compensation expense.

The Mountain View, Calif., e-commerce outfit said the restatements are "related to past stock option grants having incorrect measurement dates and other administrative inconsistencies related to certain stock-option grant dates and prices."

VeriSign said it anticipates its review of historical stock-option grant practices will be completed by the end of the year. The company is evaluating the impact on its internal controls over financial reporting and on its disclosure controls and procedures.

Shares rose 19 cents Tuesday to $23.29.