Science & Technology
Tue, September 14, 2010Mon, September 13, 2010Sun, September 12, 2010Fri, September 10, 2010Thu, September 9, 2010Wed, September 8, 2010The Shuman Law Firm Investigates NIC Inc.
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Published in Science and Technology on Friday, September 10th 2010 at 8:55 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
BOULDER, Colo.--([ BUSINESS WIRE ])--The Shuman Law Firm today announced that it is investigating potential breaches of fiduciary duty by certain senior officers and directors at NIC Inc. (aNICa or the aCompanya) (Nasdaq: EGOV) relating to possible improper reporting and reimbursement of expenses to former Chairman and Chief Executive Officer Jeffrey S. Fraser.
"is considering recommending that the SEC authorize a civil injunctive action against the Company and its officers alleging violations of various provisions of federal securities laws."
On August 5, 2010, NIC disclosed that the U.S. Securities & Exchange Commission ("SEC") Division of Enforcement "is considering recommending that the SEC authorize a civil injunctive action against the Company and its officers alleging violations of various provisions of federal securities laws." This disclosure related to allegations that payments were made for the reimbursement of personal expenses, rather than business expenses to the Companya™s former chairman and chief executive officer. The ongoing SEC investigation, and the Company's own internal review, has indicated that this mismanagement and misappropriation may have been occurring since 2004. The Company's statement also indicated that the SEC "believes that the Company and its Officers should have responded sooner and more completely to indications of potential misconduct by Mr. Fraser."
If you currently own shares of NIC and are interested in discussing your rights, or have information relating to this investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 974-8626 or email Mr. Shuman at [ kip@shumanlawfirm.com ] or Mr. Glenn at [ rusty@shumanlawfirm.com ].
The Shuman Law Firm represents investors throughout the nation, concentrating its practice in securities class actions and shareholder derivative actions.