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SEC joins hunt for FIN4 attackers

America's Securities and Exchange Commission (SEC) has joined the hunt for the FIN4 hacking group. The bunch, revealed by FireEye in December 2014, used a phishing attack to get access to listed companies' computer systems. Their payoff was to get insider information to trade their targets' stocks. According to Reuters, the SEC …
HP

SEC slaps HP with $108 MEEELION fine over bribe scandal

HP has agreed to a $108m settlement with the US Securities and Exchange Commission (SEC) to settle charges that company representatives paid off government officials in order to obtain contract deals. The SEC said that the settlement would end a case it had filed with the company alleging violations of the Foreign Corrupt …
Shaun Nichols, 09 Apr 2014

SEC: We won't slap IBM over its cloud revenue reporting

IBM has announced that it has avoided any regulatory action over the way it reports its revenues from cloud computing after the US Securities and Exchange Commission completed its investigation. The company said in a filing that it had been notified that the market authority wasn’t planning any action over its cloud business. “ …

SEC asks Affiliated Computer Services to step aside, snaps on rubber glove

The Securities and Exchange Commission is probing bean counting methods used by Xerox tentacle Affiliated Computer Services. In a filing, the copier monster confirmed the SEC has been "conducting an investigation of certain accounting practices" at ACS, an outsourcing and data centre management player that Xerox forked out $6. …
Paul Kunert, 08 Oct 2013
Funnel of cash. Credit: via SXC – http://www.sxc.hu/profile/Leonardini

SEC review clears Apple of dodgy tax dealings

The US Securities and Exchange Commission has given Apple's finances a clean bill of health after a review of the company's use of an Irish subsidiary to dodge corporate taxes be more tax efficient. In May Apple's CEO Tim Cook was quizzed by a congressional committee about how it managed to pay such a relatively small amount of …
Iain Thomson, 04 Oct 2013

We'll miss SEC financials deadline, says accounts-blundering Tech Data

Tech Data has warned it will fail to report its fiscal first-quarter financial numbers to the US Securities and Exchange Commission on time due to a continuing investigation into its accounting errors. The channel biz has 45 days from the end of April to file the paperwork, but says it will sail through that deadline. The world …
Paul Kunert, 11 Jun 2013
gavel_judgment_channel

SEC bars ex-Systemax veep from director role in fraud deal

The SEC has barred former Systemax veep Gilbert Fiorentino from being a director of a PLC again after finding he "fraudulently" pocketed hundreds of thousands of dollars in compensation over five years. The disgraced exec, who had been CEO of the reseller's Technology Products Group, was put on administrative leave in April 2011 …
Paul Kunert, 18 Sep 2012
Jim McNiel

SEC filing spills beans on Falconstor's breakup with ex-main man McNiel

A recent SEC filing has brought to light some of the details of the recent sudden departure of the CEO of standalone storage software shipper FalconStor - including the admonition that if the SEC didn't insist on the publication of the agreement, that neither party would tell all on, er, Twitter... The storage firm is living on …
Chris Mellor, 22 Jul 2013
SEC

US tech titan CSC slapped with $190m penalty

IT giant CSC has been slapped with a $190m (£122m) penalty by US regulator the Securities and Exchange Commission following a probe into the firm's accounting practices. The investigation was opened in 2011, mainly into the firm's European outsourcing unit - including revenue from its troubled NHS contract negotiations between …
Kat Hall, 30 Dec 2014

UK NHS IT supplier CSC coughs up $190m fine, three execs in the dock

Computer Science Corporation has paid its $190m (£122m) fine, levied by US watchdog the Securities and Exchange Commission over charges the Virginia-headquartered biz fudged its financial reports. And now some senior executives have agreed to hand back millions of dollars in pay and bonuses as a result of the SEC's probings. …
Iain Thomson, 05 Jun 2015
Intel sign by StockMonkeys.com

Intel's new chips are from 'Purley' – know what I mean? Know what I mean? Say no more

A presentation given at a conference on high-performance computing (HPC) in Poland earlier this month appears to have yielded new insight into Intel's Xeon server chip roadmap. A set of slides spotted by our sister site The Platform indicates that Chipzilla is moving toward a new server platform called "Purley" that will debut …
Neil McAllister, 27 May 2015
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SEC investigates disgraced Systemax exec

The SEC has launched an investigation into the reasons behind the departure of shamed Systemax exec Gilbert Fiorentino, the company has confirmed. CEO of the technology product group, Fiorentino was suspended from the US reseller - parent of Misco and WStore - in April after an independent probe into whistleblower allegations …
Paul Kunert, 28 Jun 2011
Stock ticker board

sTec flash founder cleared of insider trading charges

The wheels of SEC justice in the US grind exceedingly slowly and sometimes uselessly. Manouche Moshayedi, the founder and CEO of sTec, has just been cleared of insider trading charges filed almost four years ago. Since then sTec’s business has tumbled and it was bought by Western Digital for $340m – which was characterised as a …
Chris Mellor, 09 Jun 2014

Mouse-slinger Logitech: Gloves are off, number probe over

Human-computer interface slinger Logitech’s three month self-examination into suspected financial blunders has concluded and the outcome could have been worse, much worse. The keyboard, mouse and pointer slinger said in May that it, along with the SEC, was conducting a probe into previous financial restatements regarding …
Paul Kunert, 04 Sep 2014

Symantec data centre security software has security holes

Security bod Stefan Viehböck has detailed holes in Symantec's data centre security platforms that the company plugged this week because they allowed hackers to gain privilege access to management servers. The patches fix holes in the management server for Symantec Critical System Protection (SCSP) 5.2.9 and its predecessor Data …
Darren Pauli, 23 Jan 2015
channel

SEC probes whether Hurd leaked EDS buy info

The SEC has gotten on Mark Hurd's case, with an investigation that will look into whether the former HP boss passed on information about the acquisition of EDS to his nemesis, Jodie Fisher. The Wall Street Journal cites its favourite source – people familiar with the matter – to report that the inside information issue is part …
Joe Fay, 21 Dec 2010
channel

SEC charges two with insider trading in Oracle-Sun deal

The US Securities and Exchange Commission has charged two people for running an alleged insider trading scam involving such marquee mergers and acquisitions as Oracle's Sun purchase, Intel's McAfee buy, and HP's acquisition of 3Com. According to the complaint filed on Wednesday by the SEC, the miscreants include a corporate …

Google founders to offload $4 BEEELLION in shares

Google founders Sergey Brin and Larry Page are about to offload millions of shares that will net each billions in cash. Don't panic, dear readers, at the prospect of Google's share price (and the balance of your pension fund) diving: the pair are offloading their holdings in line with an amended stock trading plan that is …
Simon Sharwood, 16 Feb 2015

EMC reports mixed results, fingers axe: 'Reduction in force' planned

+Comment Storage giant EMC has announced its plans to lay off an unspecified number of staffers in Q1 and said in an SEC filing that it would record restructuring charges in the range of $130m to $150m. In the final few months of last year, EMC increased its revenues by $1bn, quarter on quarter, with Pivotal and VMware growing strongly, …
Chris Mellor, 29 Jan 2015
Hortonworks logo

Yahoo!-backed Hadoop biz Hortonworks flings itself at the stock market

Big data analytics firm Hortonworks filed paperwork with the US Securities and Exchange Commission on Monday announcing its intent to go public, making it the first of the Hadoop startups to float an initial public offering. The filing didn't say how many shares Hortonworks plans to offer or at what price, but it estimated the …
Neil McAllister, 10 Nov 2014
HP Logo splitting in two

We read Hewlett Packard Enterprise's 316-page post-split blueprint so you don't have to

Hewlett Packard Enterprise, one of two new companies that will emerge once the current HP splits off its PCs and printers business from its enterprise IT offerings, has filed Form 10 with the US Securities and Exchange Commission, an important milestone in the separation process. "Today, I'm more convinced than ever that this …
Neil McAllister, 02 Jul 2015

NetApp to 'realign', cut 600 jobs worldwide

NetApp has announced it will cut 600 jobs around the world, as part of a plan to adopt “... a business realignment plan designed to focus its resources on key strategic initiatives and streamline its business in light of the constrained IT spending environment.” The company announced the plan today in a form 8-K filed with the …
Simon Sharwood, 13 Mar 2014
wall_street

Box shock stock doc clocks 250 million bucks

Box has filed its hotly anticipated initial public offering (IPO) paperwork to the US Securities and Exchange Commission (SEC). The upstart's S-1 document was published this afternoon, US West Coast time, putting in motion its stock market debut. Box, which provides online file-sharing for businesses, wants to raise $250m from …
Shaun Nichols, 24 Mar 2014
channel

Oracle's Africa dealings under FBI, SEC, DoJ investigation

Oracle is reported to be under investigation by the US authorities for breaking federal anti-bribery laws in Africa. The FBI field office in Washington, fraud prosecutors in the Justice Department's criminal division, and attorneys for the Securities and Exchange Commission (SEC) are reported to be looking into sales of Oracle …
Gavin Clarke, 31 Aug 2011
Man in an orange jumpsuit clutches prison bars. Image by Shutterstock

Hey, go easy on Gilbert Fiorentino, he’s a changed man – defence lawyer

The lawyer representing disgraced former Systemax exec Gilbert Fiorentino, who is awaiting sentencing for committing fraud while employed there, has cast the man as having had issues with alcohol, but said he'd since become an upstanding citizen who did "charity work". Back in November, the Feds charged Fiorentino and his …
Paul Kunert, 18 Feb 2015
channel

Now SEC piles into HP bribery probe

HP is facing a widened bribery investigation by the Department of Justice and US financial regulators, a filing with the Securities and Exchange Commission (SEC) reveals. In its quarterly filing HP said that the US Department of Justice and the SEC were both investigating allegations of dubious dealing by the ink giant in Russia …
John Oates, 10 Sep 2010

Shareholders pen outraged letter about Ellison's bulging package

Oracle and its founder Larry Ellison are facing fresh calls from shareholders to change the company's high compensation structure for executives, and stop ignoring requests to communicate with directors. Dutch and UK shareholder groups PGGM and Railways Pension Trustee Company Limited have more than 2.8 million members and $ …
Kat Hall, 26 Jan 2015
Takign medicine, image via Shutterstock

Microsoft's magic hurts: Nadella signals 'tough choices' on the way

There’s nothing like sweetening the bad news medicine, and that’s what Microsoft’s tried with its latest internal staff memo. It wasn't until the penultimate para of Satya Nadella’s saccharine, 20-paragraph ramble about magical things that Microsoft's CEO delivered the bad-tasting medicine. “Tough choices” are coming in …
Gavin Clarke, 26 Jun 2015
Railway line split. Pic: Ian Sane

Splitters! CSC to break itself into pieces following job cull

The break-up craze among the largest tech vendors may have reached the channel, with talk that CSC will separate its North America government unit from the rest of the private-sector sales organisation. The split could come as early as next week, according to Reuters, when the loss-making company takes the covers off its latest …
Paul Kunert, 15 May 2015

HP: AUTONOMY 'misrepresented' its value by $5 BILLION, calls in SEC

Hewlett-Packard dropped a bomb this morning in reporting its financial results for its fiscal 2012 year, stating that the British software company Autonomy, which it acquired a little more than a year ago, "outright misrepresented" its own value - leading to a colossal $8.8bn writedown for HP today. In a conference call ahead of …
VMware logo

Could Joe Tucci's parting shot at EMC be to SELL OFF VMware?

A sharp-eyed industry analyst has spotted that cloudy virtualisation biz VMware's SEC filings mention the words “spin-off”. What's going on here? Aaron Rakers, the MD of analyst house Stifel Nicolaus, picked up the following sentence in VMware’s November 2013 SEC Form 10-Q filing: …that for as long as EMC or its successor-in- …
Chris Mellor, 13 Jan 2014
channel_teaser_exit

HP or Carbonite? Hmmm. HP or Carbonite? Carbonite!

Do you stick around to help a creaking tech titan rediscover its mojo, or scram for pastures new at a storage upstart? These were seemingly the only options on the table for HP’s chief strategy officer Mohamad Ali, who opted for the latter. After two years and four months, Ali has quit HP to become CEO and president at NASDAQ- …
Paul Kunert, 05 Dec 2014
Marc Benioff

Salesforce fires tractor beam at RelateIQ, hauls upstart into mothership

Salesforce has announced plans to acquire younger rival RelateIQ, a move that will shore up its core customer relationship management business with some advanced technology. The software-as-a-service giant said in an SEC filing published on Friday that it had agreed to pay $390m to purchase CRM startup RelateIQ for $350m in …
Jack Clark, 11 Jul 2014

Unify to axe 3,800 employees, blames the cloud

Unify, the company formerly known as Siemens Enterprise Communications (SEC), is to ditch half its workforce as it pursues a future based on flogging services and software. The joint venture between Siemens (49 per cent stake) and Gores Group sprang to life as SEC in 2008, but was rebranded last November, and now plans to edge …
Paul Kunert, 04 Jun 2014
IBM RTP Data Center

IBM leaps aboard the software-defined stuff bandwagon

IBM storage is getting software-defined, with IBM seeing that concept as a way of better integrating its storage hardware and software assets. Big Blue's Storage and Software-defined Systems general manager Jamie Thomas outlined a new storage deal at IBM's Enterprise event in Las Vegas, claiming the "new model will provide …
Chris Mellor, 09 Oct 2014
Microsoft campus

Ex-Microsofties face 20 years in slammer over insider trading

A former Microsoft senior manager is facing up to 20 years in jail and millions in fines and compensation over allegations he shared confidential information about the firm with his friend and business partner. The Securities and Exchange Commission (SEC) filed a complaint alleging Brian Jorgenson had handed off insider …

Tech Data to close lid on accounting nightmare TOMORROW

Tech Data is about to wake up from the restatement nightmare that has troubled senior execs for nearly 11 months when it reports delayed fiscal '13 numbers tomorrow. The world's second largest tech wholesaler revealed in March that it discovered errors in vendor accounting which could wipe up to $33m off its bottom line for …
Paul Kunert, 04 Feb 2014
Suitcase bulging with cash

Juniper under bribery investigation by US regulators

Packet-pusher Juniper Networks is under investigation by the Department of Justice and the Securities and Exchange Commission, it has emerged. The regulators are pursuing the company over "possible violations" of the anti-bribery US Foreign Corrupt Practices Act, the company revealed in its 10-Q filing with the SEC on Thursday …
Jack Clark, 09 Aug 2013

IBM's SPSS buyout: FBI cuffs two on insider trading charges

Two stockbrokers have been arrested and charged with insider trading related to IBM’s £1.2bn acquisition of software firm SPSS in 2009, after three others pleaded guilty. Daryl Payton Jr and Benjamin Durant III have both claimed innocence in the face of charges of conspiracy and securities fraud after being arrested by the FBI …
AMD CEO Lisa Su

AMD pays new CEO $150K LESS than her male predecessor

The latest insult to women working in tech came courtesy of chipmaker AMD, whose new CEO Lisa Su will take home a smaller base salary than Rory Read, the man she recently replaced. Su rocked up at AMD early 2012 as senior veep and GM for global business units and was made chief operating officer in January, raking in some $650, …
Paul Kunert, 16 Oct 2014
Cisco CEO John Chambers speaking at Cisco Live! 2014

John Chambers sold millions of shares on first day of Cisco Live!

Update Paperwork filed with the Securities and Exchange Commission show that as Cisco's CEO was wandering around the Moscone Center keynote room delivering his annual address to the Cisco Live! Conference, his brokers were selling shares in the company hand over fist. According to the latest SEC Form 4 filing, Chambers sold 2,050,000 …
Iain Thomson, 24 May 2014
Toshiba NAND wafer

REVEALED: Fusion-io shopped itself to 11 firms... 10 declined

+Analysis Fusion-io shopped itself to 11 companies and only got one offer. A Schedule 14D-9 SEC filing about the $1.1bn SanDisk acquisition of Fusion-io reveals that: SanDisk and Fusion-io first discussed a possible commercial arrangement in Summer 2013. Fusion-io talked to other potential partners as well. SanDisk expressed acquisition …
Chris Mellor, 26 Jun 2014
Windows NT blue screen of death

Microsoft 'cooperates' with wide US cash-for-contracts bribery probe

Microsoft says it will cooperate with US investigators probing alleged bribery of foreign officials. It's claimed Redmond's resellers bunged cash to apparatchiks in Russia and Pakistan in return for contracts with state-backed businesses. The software giant's deputy general counsel John Frank blogged here that his company takes …
Gavin Clarke, 22 Aug 2013
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Laser boffins blast bits onto hard drive at 200Gb/sec

A team of scientists have published a new way of using heat to store data magnetically, which could increase the speed of hard drives over a hundredfold. Conventional drives use electromagnetism to selectively change the polarity of points on a drive, representing a one or a zero. But according to research published in Nature …
Iain Thomson, 08 Feb 2012

Satya Nadella's $84.3m pay packet: Did he use the 'female superpower' to get it?

Satya Nadella famously told women to not bother asking for pay rises, which now looks a bit rich after Microsoft revealed his $83.4m pay packet. After all, what would you know about asking for a raise when your pay packet is more already than the combined wages of 800 Microsoft minions? Redmond announced its great leader's …
Jasper Hamill, 21 Oct 2014
Job cuts jpeg

Chips are down at Broadcom: Thousands of workers laid off

Broadcom is exiting the cellular baseband business, a decision that's has bitten hard, with the company announcing layoffs of around 2,500 employees – around 20 per cent of its total workforce – worldwide. Its latest SEC filing shows the company turned in a loss of $US1 million for the quarter, a collapse from the previous …
Microsoft Surface bomb

Microsoft confirms secret Surface will never see the light of day

Speculation that Microsoft contemplated a “mini” version of its Surface fondleslabs, but decided not to let it see the light of day, has been confirmed in Redmond's 8-K form lodged with the US Securities and Exchange Commission (SEC). The filing includes a section on “Computing and Gaming Hardware” that says “Current year cost …
Simon Sharwood, 24 Jul 2014
IBM CEO Ginni Rometty

Tough at the top: IBM CEO Ginni Rometty troughs $10 MEELLION+

It may not be the best time to be one of the great unwashed at IBM but it certainly pays to be on the exec team, particularly if your name is Virginia Rometty. At a time when Big Blue is cutting its cloth according to the new era of cloud, mobility, social, analytics and security by chopping thousands of job, the CEO got a …
Paul Kunert, 02 Feb 2015
management analysis3

Tech Data granted one more stay of execution by NASDAQ

The NASDAQ Panel has granted Tech Data a final extension until the end of March to get its accounts up-to-date or face an embarrassing and costly de-listing. The tanker-sized wholesaler confirmed this in a brief filing today that it had until the 27th of that month to report restated results for each quarter in fiscal '14 ending …
Paul Kunert, 09 Dec 2013

HP in 'serious' settlement talks over Autonomy legal bust-up

Hewlett-Packard seems poised to settle a lawsuit with shareholders over its $10.7bn purchase of Mike Lynch’s software company, Autonomy. The computer company said in a statement that it is in “serious discussions” to settle the suit, brought in November 2012 by angry shareholders. “No final deal has been reached yet,” HP said …
Gavin Clarke, 30 Jun 2014

Opinion

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Windows 10 Universal Apps
Windows 10 on Surface 3

Tim Anderson

It's do-or-die for Microsoft's new operating system on 29 July

Features

Steve Ballmer. Pic:  Aanjhan Ranganathan
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Confused computer keyboard
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Android icon desktop toys
Nice devices, now speak 'enterprise' to me