HCC Insurance Holdings said on Monday it will delay filing its quarterly report on Form 10-Q for the second quarter until an independent review of its stock option granting practices is completed.
A voluntary internal review found that in some instances the grant date may differ from the date used to record certain prior option grants, the Houston-based company said.
The board of directors authorized its audit committee to conduct a comprehensive independent review of the stock option granting practices from 1995 to the present.
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