{ "market" : {"NAME" : "U.S.", "ID" : "us_market", "TZ" : "ET", "TZOFFSET" : "-18000", "open" : "1259332240", "close" : "1259344840", "flags" : {"ce" : "The Thanksgiving Weekend"}} , "STREAMER_SERVER" : "http://streamerapi.finance.yahoo.com","arrowAsChangeSign" : false,"throttleInterval": "1000"}
ap

InfoGroup says it has settled SEC investigation

Database firm InfoGroup says it reached deal with SEC over accounting, spending concerns

  • On 4:46 pm EDT, Tuesday October 20, 2009

OMAHA, Neb. (AP) -- Database provider InfoGroup Inc. says it has reached a tentative agreement with the Securities and Exchange Commission to settle an investigation of the company's spending and records that began nearly two years ago.

InfoGroup says it won't admit any wrongdoing or agree to pay a penalty in the proposed settlement. But the Omaha-based company will pledge to make sure its records are accurate and its internal accounting controls are maintained.

SEC commissioners must still approve the agreement.

Last year, InfoGroup settled a shareholder lawsuit by imposing tighter limits on spending and removing founder Vin Gupta from the CEO job.

Gupta pledged to reimburse InfoGroup $9 million but remains on the company's board and received $10 million severance.

InfoGroup Inc.: http://www.infogroup.com

Securities and Exchange Commission: http://www.sec.gov

Top Stories

Sponsored Links

Copyright © 2009 The Associated Press. All rights reserved. The information contained in the AP News report may not be published, broadcast, rewritten, or redistributed without the prior written authority of The Associated Press.