The New York Times has reported that the SEC settlement with CSC relating to its accounting irregularities may be voided due to disagreements within the SEC.
The article says that the SEC officials who are opposing the settlement may withdraw their disagreement in return for proceedings being brought against a former Controller of the company. This Financial Controller is not named. I may be wrong, wasn't Donald G DeBuck CSC's Corporate Controller at the time of the accounting irregularities?
Whoever the Controller involved is, it seems incredible that there could be SEC proceedings against him or her while the CEO and CFO at the time, Michael Laphen and Michael Mancuso escape punishment. What happened to the concept that "the buck stops at the top"??
Whatever; I cannot imagine Mike Lawrie is too pleased by the prospect of this SEC investigation reopening.
Friday, 29 May 2015
Nemesis in the guise of the SEC stirs
Posted by Busy Bee at 19:41