Platinum Executives Not Selling Shares

Platinum Software Corp.’s executive officers are not planning to sell any of the 1.7 million Platinum shares that the group holds, the company said Monday.

Platinum made the relatively unusual announcement in response to “rumors” about a possible stock sale by executives, company spokesman Robert Crutchfield said Monday. Stock sales by executives at Platinum, which recently completed a secondary public stock offering, had been prohibited by the Federal Securities and Exchange Commission.

The SEC sales prohibition expired on Monday, but “Platinum wanted the market to know that the executives had no intent to sell shares,” Crutchfield said.