Trend Micro Announces Settlement of U.S. SEC Action Against Its CEO
February 08 2007 - 11:20AM
PR Newswire (US)
TOKYO, Feb. 8 /PRNewswire-FirstCall/ -- Trend Micro Inc.
(TSE:4704)(NASDAQ:TMIC) announced that its Chief Executive Officer,
Eva Chen, has reached a settlement with the U.S. Securities and
Exchange Commission ("SEC") resolving allegations of alleged
violations of Section 10(b) of the Securities Exchange Act of 1934
and Rule 10b-5 thereunder involving her spouse, Daniel Chiang, and
trading in the securities of SINA Corporation. The company
previously disclosed the SEC's investigation on July 5, 2006. Under
the terms of the settlement, Ms. Chen neither admitted nor denied
the allegations, and agreed to pay the SEC a civil penalty and not
to violate the securities laws. After being advised of the pending
settlement, the company's Board of Directors met and affirmed its
confidence in Ms. Chen's ability to continue to serve as Chief
Executive Officer and as a director. About Trend Micro Trend Micro
Incorporated is a leader in network antivirus and Internet content
security software and services. The Tokyo-based corporation has
business units worldwide. Trend Micro products are sold through
corporate and value-added resellers and managed service providers.
For additional information, visit http://www.trendmicro.com/.
DATASOURCE: Trend Micro, Inc. CONTACT: Mr. Mahendra Negi, Chief
Operating Officer / Chief Financial Officer / IR Officer,
+81-3-5334-4899, or fax, +81-3-5334-4874, or , or media, Michael
Sweeny, +1-408-863-6384, or , both of Trend Micro Web site:
http://www.trendmicro.com/
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