Critical Path Reports SEC Ends Its Investigation of the Company With No Fines Against the Company.Business Editors SAN FRANCISCO--(BUSINESS WIRE)--Feb. 5, 2002 Critical Path Inc., (Nasdaq:CPTH) said today that, as part of a settlement with the Securities and Exchange Commission, the Commission has concluded its investigation of the company with respect to the company's involvement in events leading to a 2001 restatement Restatement A revision in a company's earlier financial statements. Notes: The need for restating financial figures can result from fraud, misrepresentation, or a simple clerical error. of the company's earnings for the third and fourth quarters, and calendar year, of 2000. The Commission will acknowledge present management's cooperation in the investigation, and will assess no monetary penalties or fines against the company itself. The former members of management involved in the events leading to the restatement are no longer associated with the company. The company understands that the Commission's investigation is continuing with respect to those individuals. In settling with the SEC, the company has consented, without admitting or denying the SEC's findings, to the entry of an administrative order An order covering traffic, supplies, maintenance, evacuation, personnel, and other administrative details. regarding the "books and records" provisions of the federal securities laws. About Critical Path Inc. Critical Path, Inc. (Nasdaq:CPTH) delivers software and services that maximize the value of Internet communications. The company provides messaging and collaboration solutions -- from wireless, secure and unified messaging Having access to e-mail, voice mail and faxes via a common computer application or by telephone. For example, unified messaging may send faxes and digitized voice mail to a mail server that turns them into e-mail attachments. to basic email and personal information management -- as well as identity management solutions that simplify user profile management and strengthen information security. The standards-based Critical Path Communications Platform, built to perform reliably at the scale of public networks, delivers the industry's lowest total cost of ownership for messaging solutions and lays a solid foundation for next-generation communications services. Critical Path's customers include more than 700 enterprises, 180 carriers and service providers, eight national postal authorities A postal authority organises collection and delivery of domestic mail (US), or post (UK), within its area of control, or in the case of foreign mail, delivery to or receipt of mail from other postal authorities. Payment for the service has been performed in many ways. and 40 government agencies. Critical Path is headquartered in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden with offices throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe, Asia and Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. . More information on Critical Path can be found at www.cp.net Note to Editors: Critical Path and the Critical Path logo are the trademarks of Critical Path, Inc. All other trademarks are the property of their holders. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion