Option Granting Practices and exploits Message Board

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Strategies & Market Trends : Option Granting Practices and exploits

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Nov 4 3:59 PM EST

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To: RockyBalboa who wrote (23)	8/11/2006 7:31:19 PM
From: RockyBalboa	Read Replies (1) of 165

J2 Global to Delay 10-Q Filing Friday August 11, 6:11 pm ET J2 Global to Delay 10-Q Filing Amid Review of Stock-Option Practices, Possible Restatements LOS ANGELES (AP) -- Voicemail and fax services provider j2 Global Communications Inc. said Friday it will delay filing its quarterly financial report, as an internal review of its stock-option practices may push it to restate prior reports. ADVERTISEMENT The company said its board established a special committee of outside directors to perform an independent investigation, in addition to a previously disclosed internal review. The company believes it may need to restate past financial statements to record non-cash charges for compensation expense related to past stock option grants. The company believes any additional compensation expense would not exceed $2.1 million between its 1999 initial public offering through the end of 2005. Since the beginning of 2006, the additional expense should be under $80,000, j2 said. More than 80 companies are under regulatory or self-imposed scrutiny over their stock-option practices. Shares of j2 Global closed down 58 cents, or 2.4 percent, at $23.46 on the Nasdaq. The stock has traded between $17.91 and $32 over the past 52 weeks.

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