Buyback Burns Lawson Software

Shares fall after news of a $100 million repurchase.
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Lawson Software (LWSN) is getting an after-hours haircut, as the market apparently reacts negatively to news that the business-software vendor will repurchase as much as $100 million of its stock.

Shares were recently off 45 cents, or nearly 6%, to $7.12 in the aftermarket.

The company said late Monday it will fund the buyback from its existing cash balance and future cash flows. Lawson had about 186.4 million shares outstanding as of Aug. 31.