Thursday, 9 June 2011

Yet another class action lawsuit filed against CSC

The law firm of Izard Nobel LLP, announced on June 8 that a class action lawsuit has been filed against CSC on behalf of purchasers of CSC shares between August 11, 2010 and May 25, 2011.


It alleges that CSC and certain of its officers and directors violated US federal securities laws. Specifically, they failed to disclose the following facts:

historical and current financial results from the Managed Services Sector ...were false and in violation of the Company's internal accounting policies and Generally Accepted Accounting Principles;

the implementation of the Company's Lorenzo 1.9 software at the United Kingdom's National Health Service was experiencing severe technical difficulties, making CSC unable to meet its customer contract milestones such that that the entire contract was at risk of termination; and

CSC was experiencing significant weakness in demand for its products and services, and bookings for new business for its products were declining.

More details can be seen on http://www.izardnobel.com/computersciencescorporation/


It just gets worse and worse at CSC

1 comment:

Anonymous said...

Is it just me, or are these lawyers copy/pasting from each other?

A quick Googling reveals a fourth law suit: Scott + Scott