Risk & Compliance

CNet, Krispy Kreme Current on Filings

Reports now up-to-date after backdating disclosures.
Stephen TaubJanuary 30, 2007

Companies that delayed regulatory filings after backdated stock options grants are slowing coming into compliance.

The two latest companies to become current in their filings with the Securities and Exchange Commission: CNet Networks and Krispy Kreme Doughnuts.

Online media company CNet, which disclosed in July that it expected to restate its results, announced that it has recorded charges of $105.7 million to correct the measurement date for approximately 40.8 million options granted between July 1996 and December 2005.

CNet also filed its amended annual report for the year ended 2005, an amended quarterly report for the quarter ended March 31, 2006, and quarterly reports for the periods ended June 30, 2006, and September 30, 2006.

Meanwhile, Krispy Kreme — which has slowly been filling in the holes in its accounting — announced that it filed its quarterly report for the period ended October 31, 2004.

The company filed reports for the first three quarters of fiscal 2007 during the past five weeks or so.