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Subsequent Events
9 Months Ended
Oct. 31, 2011
Subsequent Events [Abstract]  
Subsequent Events

21. SUBSEQUENT EVENTS

Final Payment under Consolidated Shareholder Class Action Settlement Agreement and Release of ARS

Subsequent to October 31, 2011, CTI paid the remaining amount payable under the settlement agreement of the consolidated shareholder class action of $91.3 million, of which $82.5 million was paid through the issuance of 12,462,236 shares of CTI's common stock and the remainder paid in cash. Following the payment by CTI of such amounts, the security interest for the benefit of the plaintiff class in the account in which CTI held its ARS and cash proceeds from sales and redemptions of ARS (including interest thereon) terminated.

Approval of the 2011 Stock Incentive Compensation Plan

In September 2011, CTI's Board approved the Comverse Technology, Inc. 2011 Stock Incentive Compensation Plan (the "2011 Incentive Plan") and such plan was approved by CTI's shareholders at the annual shareholder meeting held on November 16, 2011. A total of 22,000,000 shares of CTI common stock are reserved for issuance under the 2011 Incentive Plan. Equity awards may be granted under the 2011 Incentive Plan to employees, non-employee directors and consultants as well as employees and consultants of our subsidiaries and affiliates.

Sale of ARS

In November 2011, CTI sold approximately $61.2 million aggregate principal amount of ARS with a carrying amount of $50.0 million as of October 31, 2011 for approximately $49.2 million in cash.

Acquisitions

In November 2011, Verint acquired technology and other assets in two separate transactions that both qualify as business combinations. Combined consideration for these acquisitions, including potential future contingent consideration, will be less than $10.0 million. The impacts of these acquisitions will not be material to the Company's condensed consolidated financial statements.

Settlement of Opt-Out Plaintiffs' Action

On September 28, 2010, an action was filed in the United States District Court for the Eastern District of New York under the caption Maverick Fund, L.D.C., et al. v. Comverse Technology, Inc., et al., No. 10-cv-4436. Plaintiffs alleged that they were CTI shareholders who purchased CTI's publicly traded securities in 2005, 2006 and 2007. The plaintiffs, Maverick Fund, L.D.C. and certain affiliated investment funds, opted not to participate in the settlement of the consolidated shareholder class action. In December 2011, the parties agreed to a settlement in principle, pursuant to which CTI would be required to pay the plaintiffs approximately $9.5 million. The Company recorded an additional liability of $4.9 million in connection with this matter as of October 31, 2011, representing the amount by which the anticipated settlement amount exceeds the Opt-out Credit and certain other credits under the settlement agreement of the consolidated shareholder class action. See Note 20, Commitments and Contingencies.

Verint's New Lease Agreement

In November 2011, Verint executed a lease agreement for a new facility in the Americas region. This new facility will be occupied in connection with the expiration of Verint's existing facility lease in the area at the end of November 2012. The lease term extends through September 2026. The aggregate minimum lease commitment over the term of this new lease, excluding operating expenses, is approximately $36.1 million.