John Burnham Benjamin (former Peregrine Treasurer): Five years of probation.Ilse Cappel (former Peregrine Assistant Treasurer): Five years of probation.Richard Nelson (former Peregrine Corporate Counsel): One day in custody, six months home detention and 200 hours of community service.Larry Rodda (former managing director of KPMG Consulting): Six months in custody, six months of home detention, two years of supervised release and $100 mandatory special assessment.Berd J Rassam (former Peregrine Controller): 19 months in custody followed by two years of supervised release.Released from prison on October 22, 2010. (former Peregrine Executive Vice President for World Wide Sales, after Powanda): 22 months in custody followed by two years of supervised release. Jeremy Crook (former Peregrine General Manager for Europe): 27 months in custody.Matthew Gless (former Peregrine CFO): 63 months in custody followed by two years of supervised release.Douglas Powanda (former Peregrine Executive Vice President for World Wide Sales): 78 months in custody at the Federal Correctional Institution, Bastrop, followed by two years of supervised release.Gardner died of a heart attack in July 2013 while in custody at FPC Cumberland. Stephen Gardner (former Peregrine CEO): 97 months in custody at the Federal Medical Center, Devens.Although former chairman of the board, John Moores, sold more than $800 million of shares during Peregrine's fraudulent period, the court of appeals determined that there was insufficient evidence that Moores knew about the fraud that led to the company's bankruptcy. In 2008, the former Peregrine CEO, Stephen Gardner, was sentenced to eight years and one month in prison for his role in the fraud, which resulted in bankruptcy for the company. In 2003, the former Peregrine CFO, Matthew Gless, pleaded guilty to fraud charges. Peregrine filed suit against its auditor Arthur Andersen in 2002 for $1 billion in damages, for allegedly allowing incorrect audits that overstated revenues by as much as $250 million to be filed for the 2000-2002 fiscal years. Peregrine, without admitting or denying the allegations of the complaint, agreed to a partial settlement. Securities and Exchange Commission charged Peregrine with "massive financial fraud" for the purposes of inflating the company's revenue and stock price. The case resulted from an investigation by the Federal Bureau of Investigation, and the Securities and Exchange Commission had pursued a parallel civil enforcement action. In 2004, a federal grand jury issued an indictment charging eight former executives of Peregrine Systems, Inc., one former outside auditor of Peregrine, and two outside business partners of Peregrine, with conspiracy to commit a multibillion-dollar securities fraud. Peregrine had offices in the Americas, Europe and Asia Pacific and grew its product line rapidly both organically and via acquisitions, including Harbinger Corporation in 2000, and Remedy Corporation in 2001. The legacy of his investments has been focused on ITSM software packages with the most recent investments made in ServiceNow. His involvement in the software industry continues today with investments through his venture capital firm JMI Equity. He resigned from the Board in 2003 during the company's bankruptcy filing. He served as Chairman from March 1990 through July 2000 and then again in 2002. In 1989, John Moores, founder of BMC Software and owner of the San Diego Padres Major League Baseball team, became a member of the Peregrine Board of Directors. The MVS client/server solutions for PNMS became available in 1995. They started selling Peregrine Network Management System (PNMS) on a Series One computer while developing an MVS version. The founders and employees were Chris Cole, Gary Story, Ed Beck, Kevin Keyes and Richard Diederich. Peregrine Systems was founded in 1981 in Irvine, California. Micro Focus which merged with the HP Software Division in 2017, now markets the Peregrine products as part of its IT Service Management solutions. Following an accounting scandal and bankruptcy in 2003, Peregrine was acquired by Hewlett-Packard in 2005. was an enterprise software company, founded in 1981, that sold enterprise asset management, change management, and ITIL-based IT service management software. Defunct American software company Peregrine Systems, Inc.Īcquired by Hewlett-Packard in 2005 ( 2005)
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