SEC Sends Quest Wells Notice Over Options Practices

Law360, New York (March 6, 2008, 12:00 AM EST) -- The U.S. Securities and Exchange Commission has sent a Wells Notice to Quest Software Inc., notifying the company that it may file charges over options backdating abuses.

Quest disclosed the Wells Notice on Wednesday in a filing with the SEC. Several employees had also received notices from the agency, the company said.

The notices relate to an informal investigation initiated by the commission in June 2006, Quest said.

“As previously reported, in June 2006 Quest Software Inc. received an informal request for information from the staff...
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