Investor Suit V. AspenTech Founder Trimmed Down

Law360, New York (May 6, 2009, 12:00 AM EDT) -- The founder and ex-chairman of Aspen Technology Inc. has partially prevailed in his bid to dismiss a shareholder suit alleging he and other top executives knew the company was improperly recognizing revenue and concealed it from investors.

Lawrence Evans, who settled fraud charges with the U.S. Securities and Exchange Commission in November, won his motion in part on Monday, as Judge John Keenan of the U.S. District Court for the Southern District of New York dismissed all but the shareholders' claims of common law fraud and...
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