Comverse Technology Inc. said lateMonday it has received a "Wells notice" from the Securities and ExchangeCommission, notifying Comverse that the SEC staff plans to recommend that theagency bring a civil action against the company. New York-based Comvere said the Wells notice relates to the SEC'sinvestigation of Comverse's past stock option grant practices and certainunrelated accounting matters.
Comverse will have the opportunity to respond before the staff makes aformal recommendation to the SEC regarding what action, if any, should bebrought.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment