By: Jennifer Saba Goldman Sachs downgraded Monster from "outperform" to "in-line" because of recent uncertainty surrounding the company?s internal investigation around options granting practices.
"While we continue to view near and long-term operating fundamentals favorably, the overhang created by this investigation will likely keep a cap on the shares," wrote analysts in a note released today.
In the worst of outcomes, the online recruitment company might be forced to restate earnings, face tax liabilities, and make executive changes.
Analysts note that Monster has not received notice from the Securities and Exchange Commission (SEC) or the Department of Justice (DOJ).
Monster's shares were trading down $3.07 to $38.93 late this morning.
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