SAN RAFAEL, Calif. (AFX) - Computer aided design software maker Autodesk Inc. said Friday preliminary findings from an internal review of past stock options grants indicates the measurement dates for some employee stock option grants differ from the dates the company recorded.
The company said its internal review is not complete, and that it does not yet know whether it will have to restate past financial statements. However, the company said it does expect to record related stock options expenses.
Autodesk also said it expects to record $4 million in expenses related to the options review in its fiscal third quarter, including outside legal, accounting, auditing and tax advisers.
Autodesk is one of at least 88 companies that have been questioned by the Securities and Exchange Commission or the Justice Department for possibly backdating stock options to coincide with share price lows to boost profits for grants recipients.
Shares of Autodesk closed down 6 cents at $35.10 on the Nasdaq.
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