Juniper receives stock charge

Juniper Networks, the world’s second biggest maker of data networking equipment, is the latest company to fall victim to the stock options backdating scandal

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By  Administrator Published  December 29, 2006

Juniper Networks, the world’s second biggest maker of data networking equipment, is the latest company to fall victim to the stock options backdating scandal.

The vendor said that it expects to take a US$900million charge to account for improperly dated options grants uncovered during an internal probe. “In prior years, we should have had better stock option granting processes, controls and oversight in place, and we did not,” stated Juniper CEO Scott Kriens.

More than a hundred companies are either under investigation by US authorities or are conducting internal probes into their stocks following concern over the practice of options back-dating

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