The three founders of the enterprise resource planning and accounting software company Lawson Software have agreed to pay $5.8 million to settle charges with the Securities and Exchange Company that they engaged in insider trading ahead of the sale of the company.

The SEC filed insider trading charges Monday against the three company founders for taking unfair advantage of incorrect media speculation and analyst reports about the company’s acquisition, and they agreed to pay nearly $5.8 million to settle the SEC’s charges.

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