CSC will pay a $190 million SEC fine to settle accounting fraud charges. The CSC accounting scandal comes amid reports that Hewlett-Packard Co. last month ended potential takeover discussions with CSC.
According to a June 5 statement from the SEC: "The Securities and Exchange Commission today charged Computer Sciences Corporation and former executives with manipulating financial results and concealing significant problems about the company’s largest and most high-profile contract. The SEC additionally charged former finance executives involved with CSC’s international businesses for ignoring basic accounting standards to increase reported profits."
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