Embattled exec resigns from board of partner company

ReiJane Huai, founder and former chief executive of FalconStor Software Inc., has resigned from the board of directors of a partner company, SeaChange International Inc.

SeaChange publicly disclosed Huai's resignation Tuesday. It was effective Nov. 11.

It is the second recent resignation for Huai, who left his position at FalconStor in September amid investigations by the U.S. Attorney's Office and the Securities and Exchange Commission.

The FalconStor inquiries focus on its accounting practices and allegations that Huai made improper payments to a software client.

Authorities have not disclosed which client or customer is alleged to have received payments.

SeaChange, of Acton, Mass., describes itself as "the leading global multi-screen video software company." FalconStor makes data backup and recovery software.

It was in 2007 that SeaChange first made public its partnership with FalconStor, saying the two companies joined "to offer an extremely high-density, high-performance, and flexible storage solution for small- and medium-sized business and enterprise data storage markets.

"The solution is powered by the award-winning FalconStor IPStor virtualization platform and SeaChange's Drawer of Drives storage platform, and supports up to 504 terabytes of storage in a single rack footprint."

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