Moody’s might cut Symantec

Moody's Investors Service said it placed Symantec Corp.’s Baa3 senior unsecured ratings under review for downgrade after the company announced that the audit committee of the board of directors began an investigation in connection with concerns raised by a former employee.

The review reflects uncertainty as to the potential business, financial, legal and regulatory risks that may result from the audit committee investigation, the agency said.

The concerns raised by the former employee relate to the company's public disclosures, including commentary on historical financial results, its reporting of certain non-GAAP measures, including those that could impact executive compensation programs, certain forward-looking statements, stock trading plans and retaliation.

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