 Because of the accounting issues from the option backdating , Comverse Technology was unable to file full or timely financial reports with the SEC . Its stock was delisted from the Nasdaq Stock Market on 1 February 2007 , and removed from the S & P 500 and NASDAQ @-@ 100 at the same time . The stock then traded on the Pink Sheets . In 2009 , the SEC settled its case with Comverse Technology ; the company would not be subject to penalty fines over the backdating matter , but would accept a permanent injunction against itself regarding any future violations of law regarding publicly traded companies . A settlement in a similar case against Ulticom was also reached . The failure to file timely financial reports put the company at risk of having its stock registration revoked ; a process deciding this , involving the SEC and an Administrative Law Judge , is still active of 2011 . 
