Science & Technology
Fri, April 13, 2012
BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces that it is continuing to investigate potential claims on behalf of purchasers of the securities of JDA Software Group, Inc. (aJDAa or the aCompanya) (NASDAQ:JDAS) concerning possible violations of federal securities laws. JDA provides enterprise software solutions to enable planning, optimization and execution of merchandising and supply chain processes, primarily in the Americas, Europe and the Asia-Pacific region.
The investigation is related to the Companyas January 31, 2012 announcement that JDAhas received notice from the U.S. Securities and Exchange Commission requesting informationrelated to revenue recognition and other accounting and financial reporting matters for certainpast fiscal years. Following this news, the price of JDA shares declined $5.08, or 19%, to close on February 1, 2012 at $24.39 per share, on heavy trading volume.
Subsequently, on April 10, 2012, JDA announced that its financial results for 2008 through 2010 and its first, second and third quarter financial results for 2011 should no longer be relied upon and should be restated, as a result of an ongoing internal review being conducted by the Companyas Audit Committee relating to the Companyas revenue recognition policies and the application of these policies during the fiscal years 2008 to 2011. According to the Company, JDA anticipates making adjustments to its software license revenue for certain transactions linked to services agreements that should have been recognized when the services agreements were signed, as opposed to at the time that the license agreement was signed.
If you purchased JDA securities, if you have information or would like to learn moreabout these claims, or if you wish to discuss these matters or have any questions concerningthis announcement or your rights or interests with respect to these matters, please contactHoward G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112,Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, orby email to [ howardsmith@howardsmithlaw.com ], or visit our website at [ http://www.howardsmithlaw.com ].
