Software Maker, SEC Reach Partial Accord
Peregrine Systems Inc., a business management software maker in bankruptcy, has reached a partial settlement with the Securities and Exchange Commission on accounting irregularities.
The settlement resolves all matters except disgorgement or civil penalties, if any, the San Diego-based company said in a statement.
Peregrine must make a public statement that accurately discloses the current condition of its internal control structure, retain an internal auditor and establish a corporate compliance program, according to the statement.
The agreement must be approved by a U.S. District Court in Southern California.
Peregrine filed for Chapter 11 protection in September.
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