Law Offices of Howard G. Smith Announces Continued Investigation of JDA Software Group, Inc.
Law Offices of Howard G. Smith announces that it is continuing to
investigate potential claims on behalf of purchasers of the securities
of JDA Software Group, Inc. (“JDA” or the “Company”) (NASDAQ:JDAS)
concerning possible violations of federal securities laws. JDA provides
enterprise software solutions to enable planning, optimization and
execution of merchandising and supply chain processes, primarily in the
Americas, Europe and the Asia-Pacific region.
The investigation is related to the Company’s January 31, 2012
announcement that JDA has 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. Following this news, the price of JDA shares
declined $5.08, or 19%, to close on February 1, 2012 at $24.39 per
share, on heavy trading volume.
Subsequently, on April 10, 2012, JDA announced that its financial
results for 2008 through 2010 and its first, second and third quarter
financial results for 2011 should no longer be relied upon and should be
restated, as a result of an ongoing internal review being conducted by
the Company’s Audit Committee relating to the Company’s revenue
recognition policies and the application of these policies during the
fiscal years 2008 to 2011. According to the Company, JDA anticipates
making adjustments to its software license revenue for certain
transactions linked to services agreements that should have been
recognized when the services agreements were signed, as opposed to at
the time that the license agreement was signed.
If you purchased JDA securities, if you have information or would like
to learn more about these claims, or if you wish to discuss these
matters or have any questions concerning this announcement or your
rights or interests with respect to these matters, please contact Howard
G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike,
Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847,
Toll Free at (888) 638-4847, or by email to email@example.com,
or visit our website at http://www.howardsmithlaw.com.