In its latest 10k filing Siebel said the SEC is conducting a fact-finding inquiry adding the investigation does not indicate the SEC has concluded the company violated any securities laws.
Siebel did not provide details of the investigation, which is reported to concern whether the company along with several others – granted stock options to executives just before they released financial information that boosted the stock price.
A spokesperson for Siebel was unwilling to be drawn on details of the case outside of those mentioned in the company’s 10k.
Siebel is well acquainted with the SEC, having been previously taken to task and fined under the fair disclosure regulations.
As far as its financials are concerned, Siebel has issued guidance for fiscal 2005 stating that it is cautiously optimistic and expects improvements, particularly in the second half of 2005. Revenue is expected to increase by 7% to 8% compared with 2004, with an operating margin ranging from 12.5% and 13.5%. The figures broadly align with analysts’ expectations.
