An investgiation for investors in shares of Software, Inc. (OTCMKTS:SABA) is currently ongoing and current long-term OCTMKTS:SABA stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/10/2015 -- The Shareholders Foundation announces that an investigation on behalf of purchasers of the securities of Saba Software, Inc. (OTCMKTS:SABA, formerly NASDAQ:SABA) Mwas launched concerning potential claims. The investigation by a law firm concerns whether certain directors of Saba Software breached their fiduciary duties and caused damages to the company and SABA stockholders.
Investors who purchased shares of Saba Software, Inc.(OTCMKTS:SABA) in 2008 or earlier and currently hold any of those SABA shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
On September 24, 2014, the Securities and Exchange Commission ("SEC") announced that it charged Saba Software and two former executives behind an accounting fraud in which timesheets were falsified to hit quarterly financial targets. According to the SEC, Saba Software overstated its pre-tax earnings by approximately $70 million from October 4, 2007 to January 6, 2012. Saba Software has agreed to pay $1.75 million to settle the charges.
On December 15, 2014 Saba Software, Inc provided an update on the Company and its progress on the restatement.. Saba Software, Inc said that as a result of the ongoing complexity of the work required to complete the restatement, the Company's current expectation regarding anticipated completion of the restatement work has shifted to an estimated time period no earlier than the Company's first quarter of fiscal year 2016 (commencing June 1, 2015).
Those who purchased shares of Saba Software, Inc.(OTCMKTS:SABA) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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