iPhone 14 Wish List 'House of the Dragon' Review Xbox Game Pass Ultimate Review Car Covers Clean Your AirPods 'The Rehearsal' on HBO Best Smart TV Capri Sun Recall
Want CNET to notify you of price drops and the latest stories?
No, thank you
Accept

i2 Technologies to pay $10 million fine

An SEC investigation into alleged misreporting $1 billion in income ends with the fine and no admission of guilt.

Software maker i2 Technologies has agreed to pay a $10 million fine to settle a Securities and Exchange Commission investigation alleging the company misstated about $1 billion in revenue, the Dallas company said this week. The proceeds from the fine will be placed in a fund for distribution to certain i2 shareholders.

The fraud probe stemmed from a series of accounting irregularities spanning five years. The problem, which came to light last year, led i2 to restate several earnings reports and resulted in a temporary delisting of its shares from the Nasdaq Stock Market. Under the settlement, i2 neither admits or denies any wrongdoing but has consented to a cease-and-desist order requiring future compliance with federal securities laws.