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Investors are reacting positively to news this morning from Open Text (NASDAQ:OTEX) -- no stranger to this column -- that the SEC has "completed its review of certain filings..." and that the SEC had no further comments "at this time."

The Canadian software company first disclosed the "review" in 2006, saying that the SEC staff had unresolved issues tied to accounting for acquisition-related costs. Such matters tend to be come under the thumb of the agency's corporate finance department.

That leaves the question, as I've written for several years: Is the enforcement division still nosing around? In 2005 I noted that the enforcement division called wanting a copy of a story I had written in 2002, while I was at TheStreet.com, that raised questions about revenue recognition. When I asked the company whether it had been contacted the by SEC about revenue recognition or "other issues," it responded that it hadn't been contacted about revenue recognition. In a follow up, I asked: "What about other issues?" There was no response.

The beat goes on...

Source: Case Closed On Open Text?