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...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Kramer v. Computer Sciences Corporation et al


Case Number

1:11-cv-00751

Court

Virginia Eastern

Nature of Suit

Securities/Commodities

Judge

T. S. Ellis, III

Date Filed

July 15, 2011

Law Firms

Companies

Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.