Feeds

SEC slaps admin order on IBM

Probe dropped after two years - no admissions or denials

Boost IT visibility and business value

IBM has struck a deal with the SEC under which it promises not violate to security laws - not that it's admitting or denying that it’s ever done such a thing in the past.

The deal closes an investigation by the SEC sparked by the IT giant’s expensing of equity compensation in its Q1 2005 earnings announcement. That quarter's profits came in under expectations.

Announcing the closing of the investigation, IBM said it had agreed to an administrative order by the SEC to “cease and desist from committing or causing any violations of certain of the reporting provisions of the federal securities laws and related SEC rules.” This was done without admitting or denying any wrongdoing.

IBM adds that the SEC’s order “contains no finding of securities fraud or violation of any antifraud provision” and that there were no fines or penalties.

Got that?

In case you forgot why the SEC kicked off the investigation in the first place, here’s a refresher.®

Maximizing your infrastructure through virtualization

More from The Register

next story
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Securing Web Applications Made Simple and Scalable
Learn how automated security testing can provide a simple and scalable way to protect your web applications.