IBM says SEC probing earnings

IBM said on Thursday that U.S. securities regulators were formally investigating the world's biggest computer services company's first-quarter earnings report and expensing of stock options.

The disclosure, which sent the company's shares down as much as 1.3 percent, follows an informal investigation that IBM revealed in June. The stepped-up investigation gives the U.S. Securities and Exchange Commission the power to subpoena documents, e-mails and individuals. IBM says SEC probing earnings | CNET

Linked by shanmuga Friday, 13th January 2006 12:11AM