Defendant Name:
Saba Software, Inc.
Defendant Type:
Public Company
SIC Code:
7372
CUSIP:
78493260
Document Reference:
33-9654
Document Details
Legal Case Name
In the Matter of Saba Software, Inc., Patrick Farrell and Sajeev Menon
Document Name
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
Document Date
24-Sep-2014
Document Format
Administrative Proceeding
AAER
3583
Allegation Type
Issuer Reporting and Disclosure
Document Summary
On September 24, 2014, the SEC instituted administrative proceedings against Saba Software, Inc., alleging that the Company violated the fraud provisions of the federal securities laws. Specifically, the SEC alleges that "the scheme involves falsification of time records and fraudulent revenue recognition for certain professional services."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Other Compliance Related Undertaking
Various undertakings
Monetary Penalties:
Civil Penalty
Individual:
$1,750,000.00
Shared:
Other Defendants in Action:
