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  "documentTitle": "Verint Systems, Inc. (VRNT)",
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  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2019-05-23 00:00:00",
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  "notes": "The slide uses a visual mapping technique to link specific individuals (Alexander, Kreinberg, Sorin) across Verint's early governance documents and SEC fraud charges.",
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      "text": "When Verint first went public in 2002, its Executive Committee and Compensation Committee consisted of Bodner and the three key executives who plead guilty to fraud in the Comverse scandal: Alexander, Kreinberg, and Sorin.",
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      "text": "Verint was born in 1994 as “Interactive Information Systems Corporation,” then a subsidiary of Comverse Technology, Inc., and was known as “Comverse Infosys, Inc.” from Jan 1999 through Jan 2002. Comverse was infamously involved in an options backdating scandal in which founder and CEO Jacob “Kobi” Alexander and other senior executives were convicted with conspiracy and fraud. Alexander promptly fled to Namibia, where he remained at large until 2016. Comverse was subsequently delisted from Nasdaq and removed from the S&P 500, and struggled to recover from the scandal until it was broken up in 2012-13.",
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      "text": "Importantly, Dan Bodner has served in his current capacity as President and CEO of Verint since the Company’s inception in 1994, and, accordingly, had close ties to Alexander. Alexander served as Verint’s Chairman since it went public in 2002 until he fled the country. Comverse CFO David Kreinberg and GC William Sorin also served on Verint’s Board, while Bodner himself served on Comverse’s Board in the period during which the scheme was alleged to have taken place.",
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