Digital River sees $9.4M options charge |
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Published
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Tue, 06 Feb 2007 16:02
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MINNEAPOLIS (AFX) - Digital River Inc. said Tuesday it will take a stock options charge of $9.4 million for the years 1998 through 2006, after an internal investigation found that it used incorrect measurement dates for some grants.The Internet marketer said the investigation also found that documentation of certain options grants was lacking.The company added the review found 'no evidence that any officer or director of the company engaged in any wrongdoing for personal enrichment,' and that none of the $9.4 million expense relates to grants to current board members or executives.Most of the expenses are from grants made before the end of 2002.Digital River said it will continue to cooperate with the Securities and Exchange Commission's informal stock options inquiry.Shares added 30 cents to $50.13 in morning trading on the Nasdaq.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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