May 14, 2018 / 8:41 PM / 2 months ago

Symantec says investigating reporting of certain accounting measures

May 14 (Reuters) - Symantec Corp said on Monday it is investigating company’s reporting of certain non-GAAP measures including those that could impact executive compensation programs, stock trading plans, following concerns raised by a former employee.

The Norton anti-virus maker said the investigation will also include company’s public disclosures including commentary on historical financial results.

“At this time, the company does not anticipate a material adverse impact on its historical financial statements,” the company said.

The company said its audit committee had retained an independent counsel and other advisers to assist in the investigation.

Symantec disclosed the whistleblower probe last Thursday in its quarterly earnings report, but did not provide details, triggering a selloff on Friday that wiped out $6 billion of the company’s market value.

Reporting by Munsif Vengattil and Laharee Chatterjee in Bengaluru

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