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Strategies & Market Trends : Option Granting Practices and exploits

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To: Glenn Petersen who wrote (67)	2/12/2007 7:39:00 AM
From: RockyBalboa	of 165

Wrongdoers merge: WITS is being acquired for $27.50 by Verint which has just been booted to the pink sheets. Witness Systems Gets Filing Extension Monday January 22, 11:05 am ET Witness Systems Receives Filing Extension From Nasdaq NEW YORK (AP) -- Work force optimization software company Witness Systems Inc. said Monday it received notice from the Nasdaq's listing qualifications panel that its deadline to file its reports for the second and third quarters of 2006 had been extended until Feb. 7. The company, whose shares are subject to delisting if it doesn't meet this deadline, said in a regulatory filing it received the notice on Jan. 18. Witness said in December it found accounting errors related to past stock option grants, but did not find fraud or intentional misrepresentation. In response to the findings, company's chairman and chief executive, David Gould agreed to voluntarily step down.

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