June 5, 2015
Posted January 28, 2016
Computer Sciences Corporation agreed to pay $190 million to settle SEC charges of manipulating financial results and concealing significant problems about the company’s contract with the UK’s National Health Service, the company’s largest and most high-profile contract. Former CEO Michael Laphen agreed to return to CSC more than $3.7 million in compensation under the clawback provision of the Sarbanes-Oxley Act and pay a $750,000 penalty. Former CFO Michael Mancuso agreed to return $369,100 in compensation and pay a $175,000 penalty. SEC
Tagged in: Accounting Fraud, Damages and Penalties, Misrepresentations, Securities Fraud,