Litigation Release No. 22543 / November 26, 2012
United States Securities and Exchange Commission v. Elaine M. Brown and Gary A. Prince, Civil Action No. 09-cv-01423 (D. D.C.)
SEC Settles with Former Integral Systems Chief Financial Officer Charged with Securities Fraud
The Securities and Exchange Commission (“Commission”) announced today that it has finalized a settlement with Elaine M. Brown, the former Chief Financial Officer of Integral Systems, Inc. (“Integral Systems” or the “Company”). In July 2009, the Commission charged Brown in connection with the concealment at the Company of a de facto officer who was a securities fraud felon. Without admitting or denying the Commission’s allegations, Brown consents to a $25,000 civil money penalty. The final judgment will resolve the Commission’s matter against Brown.
The Commission settled with the Company in an administrative proceeding in July 2009. See Litigation Release No. 21159. In early 2010, the Commission dismissed charges against the Company’s former Chairman and Chief Executive Officer, Steven R. Chamberlain, following his death. Litigation continues against Gary A. Prince.