Compuware (CPWR) Terminates Rule 10b5-1 Repurchase Plan
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In a Form 8-K, Compuware Corporation (Nasdaq: CPWR) today announced that it will terminate its Rule 10b5-1 Repurchase Plan dated September 5, 2008. Compuware elected to terminate the Plan and preserve its cash rather than risk having to incur debt to fund additional non-discretionary stock repurchases.
As of September 29, 2008, Compuware had $565,707,933 remaining authorization to make discretionary repurchases in the open market or in privately negotiated transactions during its normal trading windows under its $750 million authorization approved in February 2008.
Compuware Corporation provides software products, professional services, and application services to information technology (IT) organizations and IT service providers worldwide.
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