Comverse Puts SEC Backdating Suit To Rest

Law360, New York (June 18, 2009, 12:00 AM EDT) -- Comverse Technology Inc. has tentatively reconciled with the U.S. Securities and Exchange Commission, seeking to put an end to the civil action that the agency brought against the software company over an alleged stock options backdating scheme.

On Thursday, Comverse revealed the settlement with the SEC while neither admitting nor denying any wrongdoing in the case.

"This is an important step forward, and with these matters now resolved, we remain focused on executing our plan towards completing our restatement and executing our strategies for the long-term...
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