"FINRA devotes significant resources to surveilling the markets for possible insider trading activity because of the dangers it poses to the public's confidence in our securities markets," said Thomas Gira, Executive Vice President of FINRA's Market Regulation Department. "This action demonstrates our ability to detect insider trading and act quickly to sanction wrongdoers by removing them from the securities industry."

On June 4 and 5, 2009, Uppal purchased 27,161 shares of SoftBrands, paying $0.42 and $0.45 per share. On June 12, the company announced that it had agreed to be acquired by Golden Gate Capital and Infor Global Solutions for $0.92 per share, at a total transaction value of approximately $80 million.

That day, SoftBrands's stock price nearly doubled, rising from $0.47 to $0.89 per share on volume of 3.6 million shares. The next business day, June 15, 2009, Uppal sold all 27,161 shares of his SoftBrands stock, at $0.89 per share, realizing a profit of $11,955.

FINRA found that Uppal purchased shares of SoftBrands while in possession of material, non-public information about the company's pending acquisition. FINRA also found that Uppal used an undisclosed securities account that he maintained at another broker-dealer to conceal his trading in SoftBrands from his employer.

In settling this matter, Uppal neither admitted nor denied the charges, but consented to the entry of FINRA's findings.

Investors can obtain more information about, and the disciplinary record of, any FINRA-registered broker or brokerage firm by using FINRA's BrokerCheck. FINRA makes BrokerCheck available at no charge. In 2007, members of the public used this service to conduct 6.7 million reviews of broker or firm records. Investors can access BrokerCheck at www.finra.org/brokercheck or by calling (800) 289-9999.

FINRA, the Financial Industry Regulatory Authority, is the largest independent regulator for all securities firms doing business in the United States. FINRA is dedicated to investor protection and market integrity through comprehensive regulation. FINRA touches virtually every aspect of the securities business -- from registering and educating industry participants to examining securities firms; writing and enforcing rules and the federal securities laws; informing and educating the investing public; providing trade reporting and other industry utilities; and administering the largest dispute resolution forum for investors and firms.

For more information, please visit our Web site at www.finra.org.

SOURCE: Financial Industry Regulatory Authority (FINRA)

Financial Industry Regulatory Authority (FINRA) 
Nancy Condon, 202-728-8379 
or 
Herb Perone, 202-728-8464

Update on August 12, 2009:

The stockholders of SoftBrands have approved the company's proposed acquisition by Infor Global Solutions and an affiliate of Golden Gate Capital.

Announcement (June 12, 2009):

Infor Global Solutions, together with an affiliate of Golden Gate Capital, has entered into a definitive agreement to acquire all of the outstanding common stock of SoftBrands at a price of $0.92 per share in cash. The transaction is valued at approximately $80 million.

The offer price represents a premium of 100% to SoftBrands's closing share price on June 11, 2009. Wells Fargo Foothill, Inc. has agreed to provide financing for the transaction. The transaction is expected to close in 60 to 90 days.

Piper Jaffray & Co. is acting as financial advisor and Dorsey & Whitney LLP as legal advisor to SoftBrands. Kirkland & Ellis LLP is acting as legal advisor to Golden Gate Capital and Infor Global Solutions.

Deal Value (US$ Million) 80
Deal Type                Private Equity
Sub-Category             Going Private
Deal Status              Completed: 2009-08-13

Deal Participants

Target (Company)   SoftBrands, Inc.
Acquirer (Company) Infor Global Solutions

Bid Premium ($ per share) 100

On Aug. 13, 2009, prior to the effective time of the merger, SoftBrands assigned its right, title and interest in and to its 10 percent interest in the net proceeds of the AremisSoft Liquidating Trust to warrantholder Capital Resource Partners IV, L.P. and the individuals holding SoftBrands stock immediately prior to the effective time of the merger.

Shares of SoftBrands will be de-listed from the NYSE Amex market.

About Golden Gate Capital

Golden Gate Capital is a San Francisco-based private equity investment firm with approximately $8 billion of capital under management. Golden Gate is dedicated to partnering with world-class management teams to invest in change-intensive, growth businesses. The firm targets investments where there is a demonstrable opportunity to significantly enhance a company's value. The principals of Golden Gate have a long and successful history of investing with management partners across a wide range of industries and transaction types, including leveraged buyouts, recapitalizations, corporate divestitures and spin-offs, build-ups and venture stage investing. For more information, visit www.goldengatecap.com.

About Infor

Infor acquires and develops functionally rich software backed by thousands of domain experts

and then makes it better through continuous innovation, faster implementations, global enablement, and flexible buying options. In a few short years, Infor has become one of the largest providers of business software in the world. For additional information, visit www.infor.com.

About SoftBrands

SoftBrands, Inc is a leader in providing software solutions for the businesses in the manufacturing and hospitality industries worldwide. The company has established a global infrastructure for distribution, development and support of enterprise software, and has approximately 5,000 customers in more than 100 countries actively using its manufacturing and hospitality products. SoftBrands, which has approximately 740 employees, is headquartered in Minneapolis with branch offices in Europe, India, Asia, Australia and Africa. Additional information can be found at www.softbrands.com.

    Contact:
    Gregg Waldon
    Chief Financial Officer
    SoftBrands, Inc.
    gregg.waldon@softbrands.com
    612-851-1805

    Cameron Smith
    Public Relations Manager
    Infor
    cameron.smith@infor.com
    678-319-8280

SOURCE SoftBrands, Inc.

http://www.softbrands.com

The stockholders of SoftBrands have approved the company's proposed acquisition by Infor Global Solutions and an affiliate of Golden Gate Capital.

Announcement (June 12, 2009):

Infor Global and an affiliate of Golden Gate Capital have entered into a definitive agreement to acquire all of the outstanding common stock of SoftBrands at a price of $0.92 per share in cash. The transaction is valued at approximately $80 million.

The offer price represents a premium of 100% to SoftBrands's closing share price on June 11, 2009. Wells Fargo Foothill, Inc. has agreed to provide financing for the transaction. The transaction is expected to close in 60 to 90 days.

Piper Jaffray & Co. is acting as financial advisor and Dorsey & Whitney LLP as legal advisor to SoftBrands. Kirkland & Ellis LLP is acting as legal advisor to Golden Gate Capital and Infor Global.

Deal Value (US$ Million) 80
Deal Type                Private Equity
Sub-Category             Going Private
Deal Status              Completed: 2009-08-13

Deal Participants

Target (Company)   SoftBrands, Inc.
Acquirer (Company) Infor Global Solutions

Bid Premium ($ per share) 100