Corporations and securities brief ~ SEC charges former i2 executives with fraud

Corporations and securities brief ~ SEC charges former i2 executives with fraud

[JURIST] Leading Tuesday's corporations and securities law news, the SEC has filed civil fraud charges against former executives of i2 Technologies [corporate website], a Texas company that produces supply chain management software. In a press release, the SEC announced that it has filed suit [complaint, PDF] against three former i2 executives for illegally reporting revenue for software that was not yet functional. The suit seeks the $120 million the SEC says the executives made in ill-gotten gains from the revenue reporting. Last year, the SEC settled with i2 for $10 million [SEC press release] over alleged fraud related to reporting software revenue. AP has more.

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