Blue Coat reveals SEC investigation

In a statement released late Thursday, Blue Coat officials said they believe the SEC is investigating "whether certain present or former officers, directors, employees, affiliates or others made intentional or non-intentional selective disclosure of material nonpublic information, traded in the company's stock while in possession of such information, or communicated such information to others who thereafter traded in the company's stock."

Blue Coat executives said they are cooperating with the SEC but warned that the costs of the investigation or "an adverse result" from it could adversely affect the company's financial results.

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