SEC Asks Radio One About Stock Option Review
March 19, 2007 at 5:50 AM (PT)
RADIO ONE says that the SEC has sent it a letter of informal inquiry regarding last month's disclosure that the company is reviewing its stock option procedures and may have to restate earnings going back to 1999.
RADIO ONE, which will announce its fourth-quarter earnings on WEDNESDAY, says that it missed the MARCH 16 date for filing its annual report for 2006 because its review of the stock option situation has not been completed. The company says it will file the annual report with the SEC "as soon as practicable after the completion of our review."