Viewed from a certain angle, Falls Church, Va.-based Computer Sciences Corp. looks like a case study of everything people think is wrong with American capitalism: Misleading investors through rosy accounting.
Computer Sciences Corporation, the American technology contractor linked to allegations of bribery at Commonwealth Bank of Australia, has been charged with accounting fraud and fined $US190 million by the US Securities and Exchange Commission.
Computer Sciences Corporation (NYSE: CSC) announced a milestone in the planned spin-off of its U.S. public sector business into a separate, publicly traded company with the filing of an initial Form 10 Registration Statement (Form 10) with the U.S.
According to the news, Computer Sciences will sell its business in two parts. Its North American public sector segment will be bought by one or more private equity firms, whereas the company's commercial segments will be sold off to an international buyer.