Black Box Announces Settlement with the Securities and Exchange Commission
December 04 2009 - 2:07PM
Business Wire
Black Box Corporation (NASDAQ:BBOX) announced today that it has
entered into a settlement with the Securities and Exchange
Commission (the “SEC”) regarding the previously-disclosed SEC
investigation into the Company’s historical stock option
practices.
The Company has agreed to settle with the SEC, without admitting
or denying the allegations in the SEC’s complaint, by consenting to
the entry of a permanent injunction against future violations of
the federal securities laws that require reporting companies to
make periodic filings with the SEC, to make and keep accurate books
and records and to devise and maintain an adequate system of
internal accounting controls. The settlement does not require the
Company to pay a civil penalty or other money damages.
Subject to approval by the United States District Court for the
Western District of Pennsylvania, the settlement will conclude the
SEC’s investigation.
About Black BoxBlack Box is the world’s largest technical
services company dedicated to designing, building and maintaining
today’s complicated data and voice infrastructure systems. Black
Box services more than 175,000 clients in 141 countries with 194
offices throughout the world. To learn more, visit the Black Box
Web site at http://www.blackbox.com.
Black Box® and the Double Diamond logo are registered trademarks
of BB Technologies, Inc. Any third-party trademarks appearing in
this press release are acknowledged to be the property of their
respective owners.
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