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Technology Stocks : Opsware, Inc. (OPSW)
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From: Glenn Petersen7/5/2006 12:45:08 PM
   of 136
 
While this problem is not specific to OPSW, the stock is down a half point this morning.

Opsware says CFO faces enforcement action by SEC

BOSTON, July 5 (Reuters) - Business software maker Opsware Inc. (OPSW.O: Quote, Profile, Research) said on Wednesday that the U.S. Securities & Exchange Commission's enforcement division intends to recommend that the SEC bring an enforcement action against Opsware's chief financial officer.

Opsware said that CFO Sharlene Abrams told the company that the SEC has formally notified her of the planned recommendation.

The proposed action is the result of an SEC investigation into software maker Mercury Interactive Corp. (MERQ.PK: Quote, Profile, Research), where Abrams previously served as CFO, Opsware said

That investigation relates to practices at Mercury involving the timing of stock option grants and the apparent timing of quarter-end shipments and certain expense items and accruals, Opsware said.

The SEC investigation and possible enforcement action do not involve Opsware or Abrams' actions while at Opsware, the company said.

Opsware's board of directors has reviewed the matter and does not intend to change Abrams' status as CFO at this time, Opsware Chief Executive Ben Horowitz said in a statement.

© Reuters 2006. All Rights Reserved.

yahoo.reuters.com
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