Los Angeles, July 01: Software company Peregrine Systems Inc., which is reorganizing under bankruptcy protection, on Monday partially settled charges filed against it in a lawsuit by securities regulators. The Securities and Exchange Commission said the San Diego-based company agreed to a partial settlement without admitting or denying allegations in a lawsuit filed in federal court in southern California.
In a statement, the SEC said Peregrine had agreed not to violate certain securities laws and to disclose the condition of its internal controls once its reorganization was approved by bankruptcy court.
The company also agreed to hire an internal auditor and compliance officer and to begin training and education programs for its officers.
The SEC said its investigation into the company was continuing.
Bureau Report