RSA Security faces SEC injunction threat

Tuesday, 20 August 2002, 2:51 PM EST

The US Securities and Exchange Commission may file for a civil injunction against RSA Security Inc, following an investigation into the company's disclosures of revenue recognition changes, it emerged this week.

In an SEC filing, RSA said SEC officers are to seek permission to "commence a civil injunctive proceeding" and that RSA will "submit a written statement explaining why no such proceeding should be commenced."

"We were notified that part of the next step of the investigative process may be a civil injunction procedure," RSA spokesperson Tim Powers told ComputerWire. "We're giving them more information on why they don't need to go to this next step."

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