Aspen Technology settles SEC allegations

Aspen Technology Inc. has settled allegations by federal regulators who found the software maker fraudulently inflated revenue over three years to meet Wall Street's financial expectations, the Securities and Exchange Commission said yesterday.

The settlement does not require a financial penalty, in part because the Cambridge-based company cooperated with investigators and took steps to correct the problems, the SEC said.

However, Aspen must retain an independent consultant to review its finances.