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Backdating Watch
Comverse Technology's former general counsel William Sorin is going to pay $3 million to settle with SEC

Comverse Technology's former general counsel William Sorin is going to pay $3 million to settle a criminal SEC backdating-cum-stock manipulation suit. He will also be barred from ever again serving as a lawyer, officer or director of a public company and faces a possible five years in jail when he's sentenced in a few weeks. He is the first of the backdating lawyers - and there are a flock of them - to catch hell. The US government is still trying to extradite runaway ex-Comverse CEO Kobi Alexander from Namibia. Meanwhile, both BEA and Wind River are still trading on the Nasdaq on sufferance because they haven't filed their financial results because of backdating investigations. BEA has been told it has to file its missing 10-Qs for its July and October quarters by the end of February and Wind River either had to come up with a copy of its final report regarding its ongoing stock option investigation on January 8 or submit a written response to questions posed by Nasdaq Listing Qualifications Panel. Wind answered the questions. It also has to file its 2Q07 10-Q by February 7 and its 3Q07 10-Q by February 21. Otherwise, its shares could be delisted.

About Security News Desk
SYS-CON's Security News desk trawls the world of security for news of software, hardware, products, and services that seems likely to be of interest to infosec professionals and summarizes them for easy assimilation by busy IT managers and staff.

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