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Symantec tumbles on disclosure of whistleblower probe


By Arjun Panchadar and Jim Finkle(Reuters) - Symantec Corp shares lost a third of their value on Friday after the cyber-security firm disclosed its board's audit committee was investigating "concerns" raised by a former employee and that it might have to restate results.The stock, down $9.56 at $19.62 on Nasdaq, shed roughly $6 billion in market value, its steepest decline since 2001. At least nine analysts downgraded the stock.Symantec disclosed the whistleblower probe late on Thursday, saying it might miss a deadline for filing its annual 10-K report, may need to restate some financial ...

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First Published: Fri, May 11 2018. 22:54 IST