Comverse backdating settlement

The company focused on providing value-added services to telecommunication service providers, in particular to mobile network operators.Comverse Technology had several wholly or partly owned subsidiaries.

Under the terms of the proposed judgment, Alexander’s disgorgement and prejudgment interest will be deemed satisfied by the entry of a forfeiture order in a civil forfeiture action against Alexander’s assets in the United States District Court for the Eastern District of New York. Sorin created similar false records at Ulticom, another public company majority-owned by Comverse, the SEC said.Ulticom has said it was in the process of restating its historical financial statements for option grant accounting.SEC Chairman Christopher Cox, speaking at the Reuters Regulation Summit in Washington earlier this week, said the investigations were proceeding at a normal pace and more charges would be filed.Comverse Technology, Inc., was a technology company located in Woodbury, New York in the United States, that developed and marketed telecommunications software.

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