Comverse settles stock option backdating charges

Associated Press

,

06.18.09, 05:42 PM EDT

NEW
YORK -- Voicemail software maker Comverse Technology Inc. on Thursday
said it has settled charges of improper backdating of stock options and other accounting practices with federal regulators.

The company, which didn't admit or deny guilt to the Securities and Exchange Commission,
wasn't fined. Instead, it was permanently barred from future violations
of federal securities laws and ordered to file periodic reports with
the SEC by Feb. 8. Comverse had delayed filing financial reports as it investigated past accounting practices.

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