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Peregrine Systems Inc

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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.
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BUSINESS
January 16, 2008 | From Bloomberg News
Former Peregrine Systems Inc. President Gary Lee Lenz, whose fraud trial ended in a deadlocked jury, pleaded guilty Tuesday to making false statements in a case that charged him with helping destroy the once-$4.7-billion company. Lenz entered the plea before U.S. District Judge Thomas Whelan in San Diego. Lenz, 60, faces as many as five years in prison and a fine of $250,000. "Mr. Lenz wants to put this behind him," Lenz's attorney, Thomas Bienert, said after the hearing.
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BUSINESS
July 12, 2003 | From Bloomberg News
Peregrine Systems Inc., a San Diego maker of business management software, said it reached agreement with creditors on a reorganization plan, putting the company closer to exiting bankruptcy protection next month. U.S. Bankruptcy Judge Judith Fitzgerald in Pittsburgh said she probably would approve the plan by July 21. Peregrine said it planned to exit bankruptcy protection with about $70 million in debt.
BUSINESS
July 28, 2007 | From Times Wire Services
A judge declared a mistrial in the case of three former Peregrine Systems Inc. executives and an auditor accused of conspiracy and fraud in the accounting scandal that forced the software maker into bankruptcy. U.S. District Judge Thomas Whelan in San Diego said the jury was hopelessly deadlocked after two weeks of deliberations.
BUSINESS
July 28, 2007 | From Times Wire Services
A judge declared a mistrial in the case of three former Peregrine Systems Inc. executives and an auditor accused of conspiracy and fraud in the accounting scandal that forced the software maker into bankruptcy. U.S. District Judge Thomas Whelan in San Diego said the jury was hopelessly deadlocked after two weeks of deliberations.
BUSINESS
June 4, 2002 | Bloomberg News
Peregrine Systems Inc., which is being investigated by the Securities and Exchange Commission, said former auditor KPMG told the software maker its books violated rules involving revenue recognition, accounts receivable and stock options. KPMG had "questions and issues" about several aspects of the accounting. On May 23, San Diego-based Peregrine said it would erase about $100 million in sales from the last three years after KPMG found it had inflated revenue.
BUSINESS
July 1, 2003 | From Bloomberg News
Peregrine Systems Inc., a business management software maker in bankruptcy, has reached a partial settlement with the Securities and Exchange Commission on accounting irregularities. The settlement resolves all matters except disgorgement or civil penalties, if any, the San Diego-based company said in a statement.
BUSINESS
April 7, 2000 | Bloomberg News
Peregrine Systems Inc. shares tumbled 37% on concern that the business-software maker's planned $2.1-billion acquisition of Harbinger Corp. could slow its growth. The shares plunged $21.25 to close at $36.75 in Nasdaq trading, chopping the transaction value to about $1.3 billion. San Diego-based Peregrine said Wednesday it agreed to swap 0.75 share for each Harbinger share. Shares of Atlanta-based Harbinger, an electronic-commerce software provider, rose $2.44 to close at $26.56, also on Nasdaq.
BUSINESS
April 2, 2005 | From Associated Press
A state judge dismissed San Diego Padres owner John Moores and other former directors of Peregrine Systems Inc. from a lawsuit that alleges insider trading and breach of fiduciary duty at the software company. San Diego Superior Judge Joan M. Lewis said California law did not apply to the insider trading allegations because Peregrine was incorporated in Delaware.
BUSINESS
June 28, 2002 | Bloomberg News
Peregrine Systems Inc., said the Nasdaq Stock Market has notified the maker of business software that it intends to delist the company's stock next week because its financial statements fail to comply with market rules. Peregrine shares fell 48 cents to 35 cents. Nasdaq will delist the stock of the company, whose software lets businesses track assets such as computers and vehicles, before the market opens July 5.
BUSINESS
March 14, 2007 | From the Associated Press
The former chief executive of business software firm Peregrine Systems Inc. pleaded guilty Tuesday to three criminal charges for his role in the accounting fraud scheme that bankrupted the company. Stephen Parker Gardner appeared in federal court to change his earlier not-guilty plea on one count each of conspiracy, securities fraud and obstruction of justice.
BUSINESS
October 3, 2006 | From Dow Jones and Bloomberg News
The U.S. Supreme Court declined Monday to stop former shareholders of Peregrine Systems Inc. from using California insider-trading law to sue former board members of the company, which filed for bankruptcy protection in 2002 after an accounting scandal. The court, without comment, refused to block a lawsuit against the directors.
BUSINESS
September 20, 2005 | From Reuters
Hewlett-Packard Co. on Monday said it agreed to buy Peregrine Systems Inc. for $425 million in cash to build its portfolio of computer systems management software. HP also said that it agreed to buy privately held AppIQ, a maker of storage area network management software that helps large business customers manage computer servers and storage. Financial terms weren't disclosed.
BUSINESS
April 2, 2005 | From Associated Press
A state judge dismissed San Diego Padres owner John Moores and other former directors of Peregrine Systems Inc. from a lawsuit that alleges insider trading and breach of fiduciary duty at the software company. San Diego Superior Judge Joan M. Lewis said California law did not apply to the insider trading allegations because Peregrine was incorporated in Delaware.
BUSINESS
October 7, 2004 | David Colker, Times Staff Writer
Eight former executives of business software maker Peregrine Systems Inc. and three of their associates were indicted by a federal grand jury this week for allegedly conspiring to overstate the company's sales by more than $500 million. Former Chief Executive Stephen Gardner, Chief Operating Officer Gary Lenz and Executive Vice President Andrew Cahill were charged Tuesday with conspiracy to commit securities fraud and falsifying records, among other things.
BUSINESS
August 19, 2003 | From Dow Jones/Associated Press
Peregrine Systems Inc. said Monday that Chief Executive Gary Greenfield stepped down and was replaced by John Mutch, one of the San Diego software company's new board members. Greenfield joined Peregrine in June 2002 amid a massive accounting scandal and steered it through layoffs, asset sales and bankruptcy proceedings. Peregrine emerged from Chapter 11 protection this month and appointed a new board of directors.
BUSINESS
August 16, 2003 | From Bloomberg News
Peregrine Systems Inc., a business-management software maker that recently exited bankruptcy protection, has received approval of its agreement on fraud charges with the Securities and Exchange Commission. The U.S. District Court in Southern California agreed that Peregrine didn't have to pay a fine, give up any gains related to the alleged fraud or admit the allegations, the SEC said in a statement on its Web site.
BUSINESS
February 11, 1997 | Times Staff and Wire Reports
Peregrine Systems Inc., a San Diego software manufacturer, plans to sell 3 million common shares through an initial public offering. The company will offer the common stock at $10 to $12 a share, according to a registration statement filed with the Securities and Exchange Commission. The stock sale will include 2 million shares that Peregrine plans to issue and 1 million shares that existing investors plan to sell.
BUSINESS
August 16, 2003 | From Bloomberg News
Peregrine Systems Inc., a business-management software maker that recently exited bankruptcy protection, has received approval of its agreement on fraud charges with the Securities and Exchange Commission. The U.S. District Court in Southern California agreed that Peregrine didn't have to pay a fine, give up any gains related to the alleged fraud or admit the allegations, the SEC said in a statement on its Web site.
BUSINESS
August 8, 2003 | From Bloomberg News
Peregrine Systems Inc., the San Diego-based software maker whose customers include Circuit City Stores Inc., exited bankruptcy protection Thursday after shedding $537 million in debt. Peregrine completed a Chapter 11 reorganization owing about $70 million, company executives said. The company listed $607 million in debts when it sought protection in U.S. Bankruptcy Court in Wilmington, Del., in September.
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