BOSTON, April 11, 2012 /PRNewswire/ -- Block & Leviton LLP (blockesq.com), a Boston-based law firm representing investors nationwide, is investigating possible securities law violations involving JDA Software Group Inc. ("JDA" or the "Company") (NASDAQ: JDAS).
After the close of trading on January 31, 2012, JDA, a software company providing software solutions for retail customers, issued a press release disclosing its 2011 fourth quarter and year-end results. In that press release, JDA revealed that it had "received notice from the U.S. Securities and Exchange Commission requesting information related to revenue recognition and other accounting and financial reporting matters for certain past fiscal years."
Thereafter, in a March 15, 2012 press release, JDA further revealed that it would delay the filing of its 2011 Form 10-K, and disclosed that the Company was continuing to complete information requests received from the staff of the SEC's Divisions of Enforcement and Corporation Finance.
Then, on April 10, 2012, the Company confirmed that as a result of the Audit Committee's investigation, JDA would restate its annual and quarterly results for fiscal years 2008 through 2011 and that its financial statements during this period should no longer be relied upon. The Company also announced that it would be unable to timely file its quarterly report for the period ending March 31, 2012. Shortly before this announcement, trading in JDA was halted.
Block & Leviton's investigation seeks to determine, among other things, whether JDA or its officers and directors have violated the Securities Exchange Act of 1934 or any other federal securities laws. If you have any information relevant to this investigation, or if you purchased JDA stock between January 26, 2009 and January 31, 2012 and have questions about your legal rights, please contact Block & Leviton LLP.
Block & Leviton is a Boston-based law firm representing investors for violations of securities laws. The firm's lawyers have collectively been prosecuting securities cases on behalf of investors for over 50 years.
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BLOCK & LEVITON LLP
Whitney Street, Esq.
SOURCE Block & Leviton LLP