Taleo before the courts once again

HR solutions provider Taleo is once again before the courts. The firm, which originated in Quebec, is accused of securities fraud for share purchasing irregularities between 2005 and 2008. It is not the first time that Taleo faces such allegations. In November 2008, a class action lawsuit was filed against the company for improperly inflating results, with such a process said to be in use since the company’s initial public offering in October 2005.

Despite the presumed fraud, Taleo is currently going through a period of major growth. It was named to the Technology Fast 500, Deloitte’s annual ranking of 500 of the fastest-growing technology, media and telecommunications companies in North America.