Murray, Frank & Sailer LLP is investigating a class action lawsuit on behalf who purchased or otherwise acquired securities of Aspen Technologies, Inc. (NASDAQ: AZPNE); ("Aspen" or the "Company") between January 25, 2000 and October 29, 2004, inclusive (the "Class Period").
Join the Case
Murray, Frank & Sailer LLP has learned that the Company failed to disclose and misrepresented the following material adverse facts which were known to defendants or recklessly disregarded by them: (1) the Company improperly recognized revenue from software license and service agreements during fiscal years 2000-2002; (2) the Company's financial results violated Generally Accepted Accounting Principles; (3) the Company lacked adequate internal controls; and (4) as a result, the Company's financial results were materially inflated at all relevant times.
On October 27, 2004, Aspen announced that its Audit Committee a detailed review of the Company’s accounting for software license and service agreement transactions during fiscal years 2000-2002. On this news, shares of Aspen fell $.20 per share, on October 28, 2004, to close at $6.68 per share. Then, on October 29, 2004, Aspen announced that federal prosecutors were investigating the Company's accounting practices from 2000-2002. Aspen's shares tumbled another $.67 per share, to close at $6.01 per share.
The deadline to join this potential action with Murray, Frank & Sailer LLP is January 10, 2005. If you would like information, please contact Eric J. Belfi at 1-800-497-8076 or at [email protected].