Yet, the embattled nutritional supplement company also revealed in an SEC filing that the SEC's Division of Enforcement has been conducting an inquiry into its "business and financial operations" since December 2012.There had been press reports about a potential inquiry in early January.
They won't have that chance until Wednesday at 11 a.m.
EST when Herbalife's management hosts a conference call.
It is being examined by the Securities and Exchange Commission. 7, the company announced that investors should no longer rely on its prior disclosures about the findings of its continuing internal probe. Noncash compensation costs related to backdating will be about $51 million, plus additional tax-related expenses.
It had previously said a preliminary review suggested no intentional backdating occurred and any charges were likely to be minor. (Headlines) (Options chart) The maker of gene-testing devices said on Aug 1 that an internal probe has uncovered "certain documentation lapses" in its stock options grant processes from 1997 through 1999, including one instance when the option grant date should have been recorded differently.
Here's a look at companies that have come under scrutiny for past stock-option grants and practices.