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NEWS > Press Releases
Chordiant Software Audit Committee to Review Past Stock Option Grant PracticesCUPERTINO, CA - July 24, 2006—Chordiant Software, Inc. (Nasdaq: CHRD), the leading provider of Customer Experience (Cx(TM)) software and services, today announced that the audit committee of the Company's board of directors is in the process of conducting an independent review of the Company's historical stock option grant practices and related accounting. This review was initiated in response to a review management conducted. The audit committee is being assisted by independent legal counsel and independent forensic accounting consultants. The Company stated that it will not be in a position to comment on these matters until after the audit committee has completed its review. In addition, Chordiant said it will not file its quarterly report on Form 10-Q for the quarter ended June 30, 2006 until after the completion of the review, and the Company does not expect the review to be completed until after the date the Form 10-Q is required to be filed. Chordiant said it plans to announce its preliminary financial results for the third quarter of Fiscal Year 2006 ended June 30, 2006, on Tuesday, August 8, 2006. Chordiant's investor conference call and webcast will take place that day at 2:00 p.m. (Pacific) / 5:00 p.m. (Eastern) / 22:00 GMT (London). Participating in the call and webcast will be Steven R. Springsteel, President and Chief Executive Officer, and Peter Norman, Chief Financial Officer. About Chordiant Software, Inc.Chordiant solutions and services help major enterprises around the world deliver the best possible customer experience. Unlike traditional business applications, Chordiant Customer Experience (Cx) solutions blend insight with agile business strategies and decisions to uniquely understand the customer's behavior. This deeper understanding develops a lasting, one-to-one relationship that aligns the most appropriate value proposition to each consumer. With Chordiant Cx solutions, customer loyalty, operational productivity and profitability reach unprecedented levels of return. For more information, visit Chordiant at www.chordiant.com. Safe Harbor Statement This news release includes "forward-looking statements" that are subject to risks, uncertainties and other factors that could cause actual results or outcomes to differ materially from those contemplated by the forward-looking statements. Forward-looking statements in this release are generally identified by words, such as "believes," "anticipates," "plans," "expects," "will," "would," "guidance," "projects" and similar expressions which are intended to identify forward-looking statements. There are a number of important factors that could cause the results or outcomes discussed herein to differ materially from those indicated by these forward-looking statements, including, among others, market acceptance of our products, the final conclusions of the audit committee of the board of directors concerning matters relating to the company's stock option grants including, but not limited to, the accuracy of the stated dates of option grants and whether all proper corporate procedures were followed; and the impact of any restatement of financial statements of the company or other actions that may be taken or required as a result of such reviews. Further information on potential factors that could affect Chordiant are included in risks detailed from time to time in Chordiant's Securities and Exchange Commission filings, including, without limitation, Chordiant's Annual Report on Form 10-K for the period of October 1, 2004 to September 30, 2005, and Chordiant's most recent quarterly report on Form 10-Q. These filings are available on a Web site maintained by the Securities and Exchange Commission at http://www.sec.gov. Chordiant does not undertake an obligation to update forward-looking or other statements in this release. Chordiant and the Chordiant logo are registered trademarks of Chordiant Software, Inc. The Customer Experience Company and Cx are trademarks of Chordiant Software, Inc. All other trademarks and registered trademarks are the properties of their respective owners. Investor Relations Contact: Steve Polcyn Chordiant Software, Inc. (408) 517-6282 steve.polcyn@chordiant.com |
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