JDA Software Intends to Restate Financial Statements

JDA Software Group JDAS, announced Tuesday that based on the ongoing review of its revenue recognition policies and the application of these policies during the fiscal years 2008 to 2011, the Audit Committee of the Company's Board of Directors has made a determination that the Company's annual and quarterly results within such fiscal periods should be restated. As a result, the Company's previously issued financial statements for its fiscal years ended December 31, 2008, 2009 and 2010 and the related independent auditor's report, along with the financial statements for the interim periods ended March, June and September 2011 and the interim periods in the fiscal years ended December 31, 2008, 2009 and 2010 should no longer be relied upon.