BISYS (BSG) Completes Settlement with the Securities and Exchange Commission
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- BISYS (BSG) Completes Settlement with the Securities and Exchange Commission
BISYS (NYSE: BSG) has completed its previously disclosed settlement with the Securities and Exchange Commission (SEC) with respect to the SEC's investigation into its 2004 and 2005 restatements.
Under the settlement, the Company has agreed, without admitting or denying any wrongdoing, to refrain from future violations of the reporting, books and records and internal control provisions of the federal securities laws and related SEC rules. As previously disclosed, the Company will pay $25.1 million in disgorgement and prejudgment interest, which amount was placed in escrow in January 2007 as part of the settlement. This settlement concludes the SEC's investigation of this matter with respect to the Company.
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