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J2 Global Says It May Restate Earnings

From Bloomberg News

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.

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