IRVINE, Calif., May 6, 2016 /PRNewswire/ -- DecisionPoint Systems, Inc. (OTCBB: DPSI), a leading provider and integrator of Enterprise Mobility and Wireless Application solutions, today announced that the U.S. Securities and Exchange Commission (SEC) has concluded an investigation of the Company and does not intend to recommend an enforcement action at this time. The correspondence from the SEC relates to a Wells Notice dated July 2, 2014, regarding securities trading by a former executive of the Company.
In an unrelated announcement, DecisionPoint Systems also announced today that it has reached an agreement to settle a lawsuit between itself and five prior employees who left suddenly in late 2014 and early 2015 to join a direct competitor. The case was settled on mutually acceptable terms.
DecisionPoint believes that settling the case at this time is in the best interests of all parties and to the long-term benefit of its shareholders.
"We have refocused DecisionPoint Systems on a strategy for growth built on our core competencies so we are pleased to have realized successful resolution and put these issues behind us," said Chief Executive Officer Steve Smith. "This is a time of expanding opportunity for us, based on our unique Mobile Solutions and Services for the modern retail marketplace. We look forward to rebuilding our high-profile customer base, regaining market share and creating a prosperous future."
About DecisionPoint™ Systems, Inc.
DecisionPoint Systems, Inc. delivers improved productivity and operational advantages to its clients by helping them move their business decision points closer to their customers. We do this by making enterprise software applications accessible to the front-line worker anytime, anywhere. DecisionPoint utilizes all the latest wireless, mobility, and RFID technologies.
For more information about DecisionPoint Systems, Inc., visit www.decisionpt.com.
Except for historical information contained herein, the statements in this news release are forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results, performance and achievements in the future to differ materially from forecasted results, performance and achievements. The Company undertakes no obligation to publicly release the results of any revisions to its forward-looking statements to reflect events or circumstances after the date hereof, except to the extent required by law.
DecisionPoint™ Systems, Inc.
Chief Financial Officer
Rudy Barrio (investors)
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/decisionpoint-systems-inc-receives-positive-news-from-sec-regarding-outstanding-wells-notice-300264309.html
SOURCE DecisionPoint Systems, Inc.