A local technology firm is facing a U.S. Securities and Exchange Commission inquiry related to concerns raised by a board member last year.
Lanham-based Integral Systems, which largely builds satellite ground systems, disclosed in a March 7 filing that it was under formal investigation by the SEC. The investigation centers on complaints in a letter written by former board member Bonnie K. Wachtel about changes to the structure of the board, the appropriateness of actions of a company vice president and decisions made by then-CEO Steven R. Chamberlain, including one not to vigorously pursue the sale of the company.
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