Shareholder Sues CSC Over Hidden Financial Woes

Law360, New York (July 18, 2011, 9:24 PM EDT) -- A Computer Sciences Corp. shareholder filed a class action in Virginia federal court on Friday alleging the company hid accounting irregularities and problems with its $5 billion contract with Britain's National Health Service that, when revealed, caused stock prices to plummet.

Hilary Kramer claims the company unreasonably overstated earnings projections between May 2009 and May while the NHS, one of its biggest clients, questioned its credibility and the U.S. Securities and Exchange Commission investigated its accounting practices.

“These revelations began during the class period, but were...
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