SEC Brings Charges Against AspenTech, Execs

Law360, New York (July 31, 2007, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission on Tuesday charged software company Aspen Technology with inflating its revenues, and accused the company's former top officials with orchestrating the plot over a three-year period.

The SEC ordered AspenTech to cease and desist from breaking federal securities laws, and told the company to hire an independent consultant to review its financial and accounting policies and procedures, the agency said. The company will not have to pay any monetary penalties, however.

AspenTech siad it agreed to follow the SEC's orders,...
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