MOUNTAIN VIEW, Calif.—VeriSign Inc. confirmed it received a grand jury subpoena requesting documents related to the company’s stock-option grants and practices.
The company is the latest in a growing list of wireless firms that have been caught up in a nationwide investigation into executive stock-option grants. Investigators are keying in on the practice of retroactively changing dates stock-option grants become effective. Boston Communications Group Inc., Openwave Systems Inc., Comverse Technology Inc. and American Tower Corp. have all become embroiled in stock-option investigations within the past several weeks.
VeriSign said it intends to comply with the subpoena.
The company also said it will cooperate with the Securities and Exchange Commission, which also requested documents related to its stock-option practices.
VeriSign said its board of directors launched its own internal investigation into historical stock-option grants prior to receiving the document requests.
