SEC Settles Accounting Claims With Ex-Comverse Unit

By Melissa Lipman

Law360, New York (March 04, 2010, 3:43 PM ET) -- Verint Systems Inc. has agreed to an injunction to settle U.S. Securities and Exchange Commission claims that the former Comverse Technology Inc. unit overstated its financial results in order to earn more than $180 million through two public offerings in 2002 and 2003.

The commission filed its settled complaint with the U.S. District Court for the Eastern District of New York on Wednesday and said it had also launched administrative proceedings to decide whether Verint's securities registration should be revoked or suspended for up to a...
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