Progress Software Corp.
said late Monday federal regulators have concluded an investigation
into the company’s stock-option practices and do not intend to
recommend any enforcement action.

Progress (Nasdaq: PRGS) said the Securities and Exchange Commission
also confirmed that investigations into the actions of the company’s
former vice president, corporate controller and chief accounting
officer were also concluded without any recommended actions.

In June 2006, the Bedford, Mass.-based maker of business-computer
programs became the subject of an informal inquiry by the SEC. The
investigation involved Progress Software’s option grants between 1996
and 2002.

The company also was sued by the Arkansas Teacher Retirement System
in U.S. District Court. The group alleged the company backdated stock
option grants to its

http://www.bizjournals.com/boston/stories/2009/06/01/daily27.html