The struggles continued for Openwave Systems Inc. as shares of the company sank on news that it is investigating whether executives had “managed” financial results.
The Redwood City, Calif.-based developer delayed its third-quarter financial report pending an internal investigation, citing allegations by an employee that members of senior management may have managed accounting reports. “The company and its board of directors take these matters very seriously and accordingly the company’s management is cooperating fully,” said interim CEO Bruce Coleman.
Openwave’s stock has crumbled from a 52-week high of $10.58 as the company has struggled with decreasing revenues from its licensing and services businesses. Openwave shares fell 17 cents, or nearly 8%, to $1.97 per share following the announcement.
Openwave shares fall on investigation news
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AI infra brief: Power struggles behind AI growth
The IEA report predicts that AI processing in the U.S. will need more electricity than all heavy industries combined, such as steel, cement and chemicals
Energy demand for AI data centers in the U.S. is expected to grow about 50 gigawatt each year for the coming years, according to Aman Khan, CEO of International Business Consultants
AI infra brief: Power struggles behind AI growth
The IEA report predicts that AI processing in the U.S. will need more electricity than all heavy industries combined, such as steel, cement and chemicals
Energy demand for AI data centers in the U.S. is expected to grow about 50 gigawatt each year for the coming years, according to Aman Khan, CEO of International Business Consultants