Saba Software, Inc.(OTCMKTS:SABA) Investor Investigation Over Potential Securities Law Violations Announced

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Company Name(s): 
Saba Software
Affected Securities: 

September 26, 2014 (Shareholders Foundation) - An investigation on behalf of investors of Saba Software, Inc.(OTCMKTS:SABA) shares over potential securities laws violations by Saba Software and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Saba Software, Inc.(OTCMKTS:SABA) concerning whether a series of statements by Saba Software regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

On September 24, 2014-- Saba Software, Inc. (OTCMKTS:SABA), announced that it reached a settlement with the U.S. Securities and Exchange Commission ("SEC") regarding the previously disclosed SEC investigation. Under the terms of the settlement, the Company has consented to the terms of the SEC’s order without admitting or denying the SEC’s findings. Saba Software, Inc said it has also agreed to pay a civil penalty of $1.75 million in three installments over a one-year period and may be required to make an additional payment of $0.1 million depending on the date on which it files its Comprehensive Annual Report.

Saba Software, Inc. reported that ita Total Revenue rose from $107.78 million for the 12 months period that ended on May 31, 2008 to $116.66 million for the 12 months period that ended on May 31, 2011 and that its respective Net Loss increased from $3.54 million to $7.26 million. Shares of Saba Software, Inc. (OTCMKTS:SABA) grew from $0.95 per share in December 2008 to as high as $12.55 per share in March 2012.