Supply chain management software supplier i2 Technologies has reached a $10m settlement in a US Securities and Exchange Commission investigation into alleged violations of federal securities law.
By submitting your personal information, you agree that TechTarget and its partners may contact you regarding relevant content, products and special offers.
The SEC has alleged that i2 improperly recognised software licensing revenues during its 1999 to 2002 financial years, a claim that i2 neither admits to nor denies in the settlement, said i2 spokeswoman Melanie Ofenloch.
The settlement comes one month after company shareholders were paid $85m in a class action lawsuit settlement over similar allegations.
The SEC launched its probe in April 2003. Five months later, i2 restated financial results for the four years in question, a restatement that reduced the company's total reported revenue for the period by nearly $360m.
The SEC's $10m civil penalty will be distributed to i2 shareholders, although exactly who will receive the money has yet to be determined, Ofenloch said.
Robert McMillan writes for IDG News Service