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EDS Settles With SEC Over Accounting Practices

Law360 (September 26, 2007, 12:00 AM EDT) -- Electronic Data Systems Corp. has agreed to hand over nearly $500,000 to the U.S. Securities and Exchange Commission to resolve an investigation into alleged improper accounting practices.

The SEC revealed Tuesday that EDS had agreed to a cease-and-desist order and will pay a $490,902 in disgorgement and prejudgment interest over allegations that EDS violated provisions of federal securities laws related to issuer reporting and bookkeeping practices.

“EDS is pleased the SEC investigation is resolved and concluded so we can put these historical matters behind us,” said...
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