The widening options-timing scandal contributed mightily to a record-setting number of large U.S. corporations filing late financial reports for the second quarter, according to a study from market research firm Glass Lewis & Co.
The firm said that 138 companies with market capitalizations above $75 million reported in the second week of August that their quarterly reports would be late and that the most-often cited reason (by 48 companies) for delay was the need to review past option grants. By way of comparison, in 2005's second quarter, Glass Lewis said that there were 91 late filers.
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