Michael Shannahan, who joined Kana Software less than 14 months ago, retired from the Menlo Park developer of customer communication software Monday in order to “pursue other interests,” the company said in a regulatory filing Tuesday.
It would be the end of Shannahan’s sixth CFO gig in 10 years, having also served in that capacity at Read the rest of this entry »
Aviza Technology, which itself notified the Nasdaqlisi stock market last week that it would not comply with its financial reporting rules because of its failure to timely file its quarterly 10-Q report with the SEC, received word back from Nasdaq last week confirming that, yep, it is subject to being delisted.
The company has 60 days to submit a plant to regain compliance, and if Nasdaq accepts the plan, could be granted an exception of up to Read the rest of this entry »
Six years after passage of the Federal Information Security Management Act (FISMA), a report by the Government Accountability Office describes the persistence of “significant weaknesses” to the security of the federal government’s computer systems, leaving them “vulnerable to intrusion by individuals and groups who have malicious intentions and can obtain sensitive information, commit fraud, disrupt operations, or launch attacks against other computer systems and networks.”
In their fiscal year 2008 performance and accountability reports, 20 of 24 major agencies noted that Read the rest of this entry »
Interest must be heavy in obtaining a piece of OpenTable’s impending initial public offering of stock scheduled for later this week, judging by an amendment the San Francisco-based developer of an electronic reservation booking system for restaurants filed today to its initial registration statement. The potential price range was bumped up nicely from the $12-$14 range the company announced last week to $16-$18.
That would boost the amount of many raised by the offering Read the rest of this entry »
Network Equipment Technologies reported issuing a block of shares of restricted stock on Monday to its employees, including its executive officers, “intended primarily to approximately offset temporary salary reductions” which began being imposed for a six-month period beginning with the company’s April 3 payroll.
The company issued Read the rest of this entry »
The bidding for SumTotal Systems went even higher Monday when the company amended its merger agreement with Accel-KKR to raise the proposed purchase price by a dollar a share from $3.80 to $4.80, according to a regulatory filing made today. That’s 30 cents higher than the counter bid made by Vista Equity, which set the whole bidding war in motion April 3 when it first made an unsolicited offer to buy the Mountain View developer of training and personnel software for $3.25 a share. Vista raised its bid last week to $4.50.
SumTotal, which had been free to solicit higher bids under its original merger agreement with Accel-KKR, has now committed itself to paying Read the rest of this entry »
Thermo Funding, an entity controlled by Globalstar’s Chairman and Chief Executive Officer James Monroe III, tripled its ownership stake in the Milpitas satellite company after buying 1.4 million shares from April 29 to May 12, for which it paid $1 million, and acquiring 10 million more May 15 by converting $7.5 million in debt owed to it by the company into equity.
The moves raised the CEO’s holdings in Globalstar to Read the rest of this entry »
Xtent, the Menlo Park development-stage medical device company that went public about 27 months ago, has decided to throw in the towel and liquidate its assets and dissolve.
The board made the decision Friday, subject to the approval of Read the rest of this entry »
Tivo re-negotiated the lease for its 127,124-square-foot headquarters it leases in the Alviso neighborhood in San Jose at 2160 and 2190 Gold Street from the Bixby Technology Center, getting a 23 percent decrease in its rent beginning next February and extending the term for an additional seven years, according to a filing the company made Monday.
The rent roll-back begins Read the rest of this entry »
Monster Worldwide, the New York parent company of the monster.com employment site, has agreed to pay a $2.5 million penalty to settle charges of backdating brought against the company by the Securities and Exchange Commission. The payment, which had been set aside by the company in anticipation of its resolution, conludes the SEC’s formal investigation in to Monster’s historical stock option granting practices.
A special committee of the board was set up in June 2006 to Read the rest of this entry »
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