J2 Global Says It May Restate Earnings
J2 Global Communications Inc., which makes software to connect e-mail, phone, fax and voicemail, said Friday that it might restate earnings back to its July 1999 initial public stock offering to record stock option grants.
J2 Global will delay a second-quarter filing with the Securities and Exchange Commission to investigate option grants, it said in an SEC filing. The Hollywood-based company doesn’t expect the restatement to exceed $2.1 million from 1999 to 2005, it said.
J2 Global made the announcement after the close of regular trading, when its shares fell 58 cents to $23.46. They were little changed after hours.
More than 100 businesses have indicated that they are the subject of federal government or internal probes to determine whether they improperly backdated options.