Lam Research to restate some earnings

NEW YORK, Dec 21 (Reuters) - Lam Research Corp. (LRCX.O) said a review of stock options practices and related accounting will lead to the restatement of certain earnings, and its financial statements for fiscal years 1997 to 2005 should no longer be relied upon.

A review found that the actual measurement dates for financial accounting purposes for some stock options differed from the recorded grant dates of such awards.

A significant majority of the measurement date changes result from stock options granted prior to fiscal 2003, the company said. Lam said an independent committee's assessment is ongoing, but its preliminary view is that there was no intentional misconduct by management.

Lam said it cannot estimate the amount of charges it will take for compensation expenses. (Reporting by Nick Zieminski; Editing by Gary Hill)