Santa Ana-based title insurer First American Corp. said Thursday that a special board committee found some stock options granted by the company may have been backdated.
First American joins a number of local companies to have backdated options, including Irvine-based Broadcom Corp. and Lake Forest-based Western Digital Corp.
In August, First American asked a committee of independent directors to review its stock options grant program.
First American also reported initial third-quarter results Thursday, with a 34% drop in profit from a year earlier to $98 million. The company blamed higher expenses.
Revenue for the quarter was $2.2 billion, flat with a year earlier.
