By Erin Marie Daly

Law360, New York (March 13, 2009, 12:00 AM ET) -- Quest Software Inc. and three of its current and former executives have reached a settlement with the U.S. Securities and Exchange Commission following a probe into the company’s accounting practices and stock option grants to employees.

The regulator said Thursday that the Aliso Viejo, Calif.-based computer software manufacturer had consented to the entry of an order permanently enjoining it from violating certain anti-fraud provisions, as well as the record-keeping, financial reporting, internal controls, and proxy provisions of the federal securities laws.

In a complaint filed concurrently...