CSC Strikes $97.5M Deal In Suit Over Contracting Cover-Up

Law360, Los Angeles (May 15, 2013, 10:16 PM EDT) -- Computer Sciences Corp. has reached a $97.5 million settlement with a class of shareholders alleging CSC's stock price fell due to revelations that it hid accounting irregularities related to a $5.4 billion contract with Britain's National Health Service, according to a Wednesday court filing.

The consolidated class complaint accused CSC of unreasonably overstating earnings projections while covering up problems with the $5.4 billion contract to digitize NHS medical records with software known as "Lorenzo," as well as accounting problems in other countries. The settlement class consists...
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