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BUSINESS
January 9, 2009 | Times Staff and Wire Reports
A former Peregrine Systems Inc. chief lawyer pleaded guilty to bank fraud two months before he was to go on trial for participating in a scheme that destroyed the software firm, once valued at $4.7 billion. Richard Nelson, 49, pleaded guilty in federal court in San Diego to defrauding banks of $150 million from a line of credit Peregrine obtained in July 2001 that he later learned was based on phony sales figures.
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BUSINESS
December 16, 1999 | Karen Kaplan
Software makers Peregrine Systems Inc. and GoldMine Software Corp. announced a partnership to jointly market their products. As part of the deal, San Diego-based Peregrine will buy a 10% stake in GoldMine for $82.7 million, giving the privately held company a market value in excess of $800 million. Both companies make software to help companies keep track of business contacts, customer services, and other company information.
BUSINESS
December 31, 2008 | TIMES WIRE REPORTS
A former Peregrine Systems Inc. controller was sentenced to two years in prison for his role in the fraud that destroyed the software company once valued at $4.72 billion. Berdj Rassam, 42, pleaded guilty in February 2007 to one count of securities fraud. He faced a maximum sentence of 10 years in prison. Prosecutors had sought a sentence of three years, five months. Rassam's lawyer asked for a sentence of probation with no time in jail. Prosecutors charged 18 people in a multimillion-dollar accounting scam to falsely inflate profit and boost Peregrine's stock that sent the San Diego company into bankruptcy in 2002.
BUSINESS
January 9, 2009 | Times Staff and Wire Reports
A former Peregrine Systems Inc. chief lawyer pleaded guilty to bank fraud two months before he was to go on trial for participating in a scheme that destroyed the software firm, once valued at $4.7 billion. Richard Nelson, 49, pleaded guilty in federal court in San Diego to defrauding banks of $150 million from a line of credit Peregrine obtained in July 2001 that he later learned was based on phony sales figures.
BUSINESS
March 2, 2000 | Times Staff; Bloomberg News
Just say "Palm" and see what happens. That may be what more tech companies will be thinking after San Diego-based Peregrine Systems (ticker symbol: PRGN) saw its shares soar $15.25 to a record $69.88 on Wednesday. The trigger: Peregrine, which makes software for computer-system help desks, announced that its ServiceCenter software will run on the Palm system.
BUSINESS
February 7, 2008 | From Times Wire Services
A former KPMG executive will pay $80,000 to end claims that he helped Peregrine Systems Inc. defraud investors, the Securities and Exchange Commission said. Larry Rodda, a former managing director at the accounting firm's consulting arm, agreed to the fine without admitting or denying wrongdoing, the agency said. The SEC, in a 2004 lawsuit naming Rodda and eight others, said he knowingly signed four sham software agreements in 1999 and 2000 that let San Diego-based Peregrine improperly record $22 million in revenue.
BUSINESS
December 12, 2008 | from times wire reports
The former chief executive of Peregrine Systems Inc., Stephen P. Gardner, was sentenced to eight years and one month in prison for his role in the fraud that destroyed the software company once valued at $4.72 billion. "I did hide problems in the hope that they would be fixed and we could move on," Gardner told U.S. District Judge Thomas J. Whelan in federal court in San Diego before being sentenced. "I was dedicated to making Peregrine a great company, and I failed." Whelan ordered the former CEO to begin serving his sentence Feb. 20. Gardner, 55, pleaded guilty in March 2007 to one count each of securities fraud, obstruction of justice and conspiracy to commit securities and wire fraud.
BUSINESS
December 31, 2008 | TIMES WIRE REPORTS
A former Peregrine Systems Inc. controller was sentenced to two years in prison for his role in the fraud that destroyed the software company once valued at $4.72 billion. Berdj Rassam, 42, pleaded guilty in February 2007 to one count of securities fraud. He faced a maximum sentence of 10 years in prison. Prosecutors had sought a sentence of three years, five months. Rassam's lawyer asked for a sentence of probation with no time in jail. Prosecutors charged 18 people in a multimillion-dollar accounting scam to falsely inflate profit and boost Peregrine's stock that sent the San Diego company into bankruptcy in 2002.
BUSINESS
September 17, 1997
Here are five big gainers and five big losers among California-based companies that made their first sales of stock to the public, or initial public offerings, between Jan. 1 and Sept. 11. Gainers Firm (City): Rambus Inc. (Mountain View) Industry: Semiconductors Offer date: May 14 Offer price: $12 Tuesday close: $66.13 % chg. from offering: +451% * Firm (City): Onsale Inc. (Mountain View) Industry: Business services Offer date: April 17 Offer price: $6 Tuesday close: $22.25 % chg.
BUSINESS
December 12, 2008 | from times wire reports
The former chief executive of Peregrine Systems Inc., Stephen P. Gardner, was sentenced to eight years and one month in prison for his role in the fraud that destroyed the software company once valued at $4.72 billion. "I did hide problems in the hope that they would be fixed and we could move on," Gardner told U.S. District Judge Thomas J. Whelan in federal court in San Diego before being sentenced. "I was dedicated to making Peregrine a great company, and I failed." Whelan ordered the former CEO to begin serving his sentence Feb. 20. Gardner, 55, pleaded guilty in March 2007 to one count each of securities fraud, obstruction of justice and conspiracy to commit securities and wire fraud.
BUSINESS
February 7, 2008 | From Times Wire Services
A former KPMG executive will pay $80,000 to end claims that he helped Peregrine Systems Inc. defraud investors, the Securities and Exchange Commission said. Larry Rodda, a former managing director at the accounting firm's consulting arm, agreed to the fine without admitting or denying wrongdoing, the agency said. The SEC, in a 2004 lawsuit naming Rodda and eight others, said he knowingly signed four sham software agreements in 1999 and 2000 that let San Diego-based Peregrine improperly record $22 million in revenue.
BUSINESS
October 1, 2002 | P.J. HUFFSTUTTER and RALPH FRAMMOLINO, TIMES STAFF WRITERS
When Peregrine Systems Inc. ousted its top management amid an accounting scandal in May, the San Diego software company turned to the man who built it from a tiny firm to a $13-billion enterprise: John J. Moores. The multimillionaire owner of the San Diego Padres baseball team seemed like a natural choice. A self-described computer nerd, he had served on the board for 13 years, including a decade-long stint as chairman.
BUSINESS
September 23, 2002 | P.J. HUFFSTUTTER, TIMES STAFF WRITER
After months of struggling to shed its financial and legal woes, San Diego-based software company Peregrine Systems Inc. filed for Chapter 11 bankruptcy protection Sunday and said it would sue accounting firm Arthur Andersen for more than $250 million. Peregrine--whose chairman is John J. Moores, owner of the San Diego Padres--blames its failure on Arthur Andersen, which it accuses of engaging in fraud, corporate negligence and failure in its auditing and accounting duties.
BUSINESS
March 2, 2000 | Times Staff; Bloomberg News
Just say "Palm" and see what happens. That may be what more tech companies will be thinking after San Diego-based Peregrine Systems (ticker symbol: PRGN) saw its shares soar $15.25 to a record $69.88 on Wednesday. The trigger: Peregrine, which makes software for computer-system help desks, announced that its ServiceCenter software will run on the Palm system.
BUSINESS
December 16, 1999 | Karen Kaplan
Software makers Peregrine Systems Inc. and GoldMine Software Corp. announced a partnership to jointly market their products. As part of the deal, San Diego-based Peregrine will buy a 10% stake in GoldMine for $82.7 million, giving the privately held company a market value in excess of $800 million. Both companies make software to help companies keep track of business contacts, customer services, and other company information.
BUSINESS
October 1, 2002 | P.J. HUFFSTUTTER and RALPH FRAMMOLINO, TIMES STAFF WRITERS
When Peregrine Systems Inc. ousted its top management amid an accounting scandal in May, the San Diego software company turned to the man who built it from a tiny firm to a $13-billion enterprise: John J. Moores. The multimillionaire owner of the San Diego Padres baseball team seemed like a natural choice. A self-described computer nerd, he had served on the board for 13 years, including a decade-long stint as chairman.
BUSINESS
September 23, 2002 | P.J. HUFFSTUTTER, TIMES STAFF WRITER
After months of struggling to shed its financial and legal woes, San Diego-based software company Peregrine Systems Inc. filed for Chapter 11 bankruptcy protection Sunday and said it would sue accounting firm Arthur Andersen for more than $250 million. Peregrine--whose chairman is John J. Moores, owner of the San Diego Padres--blames its failure on Arthur Andersen, which it accuses of engaging in fraud, corporate negligence and failure in its auditing and accounting duties.
BUSINESS
September 17, 1997
Here are five big gainers and five big losers among California-based companies that made their first sales of stock to the public, or initial public offerings, between Jan. 1 and Sept. 11. Gainers Firm (City): Rambus Inc. (Mountain View) Industry: Semiconductors Offer date: May 14 Offer price: $12 Tuesday close: $66.13 % chg. from offering: +451% * Firm (City): Onsale Inc. (Mountain View) Industry: Business services Offer date: April 17 Offer price: $6 Tuesday close: $22.25 % chg.
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