Wednesday, August 9, 2006

Juniper Finds Problems in Past Stock Option Practices

Juniper Networks issued a statement saying that its Audit Committee has reached a preliminary conclusion that the actual measurement dates for financial accounting purposes of certain stock option grants issued in the past differ from the recorded grant dates of such awards.

Juniper now plans to restate historical financial statements to record additional non-cash charges for stock-based compensation expense related to past option grants. The company has not determined the amount of such charges, the resulting tax and accounting impact, or which specific periods require restatement.


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