Software company Openwave Systems Inc. said late Monday it will delay filing its fiscal 2008 third-quarter financial results with the Securities and Exchange Commission because of an ongoing internal investigation.
The investigation was prompted by employee allegations that certain senior executives were "managing" the company's financial results.
"The company and its board of directors take these matters very seriously and accordingly the company's management is cooperating fully," said Bruce Coleman, Interim chief executive, in a statement.
Coleman took over after CEO Robert Vrij resigned in April. He was one of several top executives to leave the company over the last several months. In January, Chief Financial Officer Jean-Yves Dexmier's suddenly resigned, with no explanation from the company.
In March, the company said it planned to cut about 200 jobs worldwide under a restructuring plan with the goal of saving $50 million a year.
The ongoing investigation, to date, has not reached any conclusion that previous financial statements were materially misleading, Openwave said, in a statement.
Shares of Openwave fell 13 cents, or 6.1 percent, to $2.01 in premarket trading. The stock closed at $2.14 Monday.
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