Symantec gambled 20 percent in extended trading Thursday after the security software followers said its board is investigating concerns raised by an ex-employee and that the quantity has been relayed to the SEC.
“The Audit Committee of the Board of Directors has commenced an internal quest in connection with concerns raised by a former employee,” Symantec said in a gather release that included its fiscal fourth-quarter results. “The investigation is in its advanced stages and the Company cannot predict the duration or outcome of the investigation.”
Symantec didn’t victual any details surrounding the nature of the investigation but did say that the issue would in all probability keep the company from being able to file its annual write-up for the year ended March 30, “in a timely manner.”
The stock downed $5.80 to $23.38 after the announcement.
Symantec’s results surpassed Infuriate Street expectations on earnings and revenues, but its forecast for both the full year and known quarter fell short of analysts’ estimates.
Shortly after the notice, Rosen Law Firm, a firm that represents investors, put out a press rescue saying that it’s investigating whether Symantec “may have issued essentially misleading business information to the investing public.”