If you purchased shares of Jda Software Group Inc (NASDAQ:JDAS)
The investigation by a law firm focuses on whether a series of statements made by JDA Software Group Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On January 12, 2012, JDA Software Group Inc reported its preliminary revenue results for the fourth quarter 2011 and earnings expectations for the FY 2011. Following the announcement shares of Jda Software Group Inc (NASDAQ:JDAS)
Then on Jan. 31, 2012, JDA Software Group Inc announced its fourth quarter and full year 2011 results. Among other things, JDA Software Group Inc said it has received notice from the U.S. Securities and Exchange Commission (“SEC”) requesting information related to revenue recognition and other accounting and financial reporting matters for certain past fiscal years. In particular, the SEC requested information regarding JDA Software Group’s 2010 annual filing. JDA Software Group Inc also received a subpoena for documents from 2008 through 2010.
Then on February 29, 2012, JDA Software Group Inc that it was unable to file its Form 10-K for the year ended December 31, 2011 by the February 29, 2012 deadline due to its review of its revenue recognition policies for certain past years in connection with the previously disclosed inquiry from the SEC.
On March 15, 2012, JDA Software Group Inc disclosed that due to the SEC inquiry it would delay filing its 2011 Form 10-K. Additionally, JDA Software Group Inc said that it had engaged outside counsel and an accounting firm to review "the application of its revenue-recognition policies and other accounting matters."
NASDAQ:JDAS shares fell from as high as $33.50 in December 2011 to under $25 in early May 2012.
Those who purchased shares of Jda Software Group Inc (NASDAQ:JDAS)
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