Dunne's resignation became effective on June 16.

Dunne denied any wrongdoing, SteelCloud (Herndon, Va.) said in a statement released on Monday (June 19).

SteelCloud, which supplies server appliances and network security and management infrastructure services, said it has delayed the release of its second quarter 2006 financial results in response to the investigation. Its Form 10-Q was due to the U.S. Securities and Exchange Commission on June 14.

The audit focused on "matters associated with the attempted exercise of certain employee stock options owned by Mr. Dunne," according to the company statement. "The matter was discovered through operation of the company's internal controls and procedures and did not result in any direct financial loss or have any direct effect on the company's financial statements."

Dunne and SteelCloud join a growing list of companies and industry executives caught up in the scandal involving the backdating of stock options that surfaced in March.