- Summary: Monster Worldwide Inc. said that it may need to restate its financial results for 2005 and earlier to record additional non-cash charges for past options grants. That's effectively an admission that it " could have issued options at favorable, below-market prices to employees and failed to properly record a cost for the resulting extra pay". Monster was the subject of a WSJ article about options abuses last month which highlighted an April 2001 grant at the lowest closing price in the first half of that year; the stock rose 67% in the 20 days following the grant. Monster is under investigation by the Justice Dept. and SEC.
- Comment on related stocks/ETFs: See the detailed analysis of Monster's (NASDAQ:MNST) options grants by Mark Mahaney, the options scandal scorecard, and the potential fallout for a company of options manipulation.
One Page Annotated Wall Street Journal Summary (receive it by email every morning by signing up here):Excerpt from our