SEC Staff Eyes Civil Action Against Comverse

Law360, New York (March 25, 2008, 12:00 AM EDT) -- Comverse Technology Inc. learned Friday that the staff of the U.S. Securities and Exchange Commission will recommend that the SEC file a civil action against the company, alleging violations of securities laws, according to Comverse's most recent regulatory filing.

In a Form 8-K filed with the SEC on Monday, Comverse disclosed that it received a Wells Notice stemming from the commission's probe into the company's past stock option grant practices and other “unrelated accounting matters.”

Comverse's 8-K noted that recipients of a Wells Notice have the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.