Business Services Industry
SEC Launches Formal Probe into Nashua, N.H.-Based Educational Software Firm.
Knight Ridder/Tribune Business News, February, 2003
By Brad Leighton, The Telegraph, Nashua, N.H. Knight Ridder/Tribune Business News
Feb. 4--NASHUA, N.H.--The federal Securities and Exchange Commission's informal inquiry into online education software developer SkillSoft PLC has turned into a formal investigation, the company announced Monday.
SkillSoft is cooperating fully with the SEC, said Linda Galloway, a company spokeswoman. The SEC informed the company that it had decided to conduct a formal investigation after the market closed on Friday, she said.
In November, the Nashua-based company announced that it had found accounting irregularities in SmartForce, a company it acquired last year. The irregularities included SmartForce's booking revenue from resellers before receiving it,...
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