SEC Probe of Computer Associates Eyeing Ex-Chief Wang
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The Securities and Exchange Commission said in its complaint that during the years Charles Wang was in charge of Computer Associates between January 1, 1998, and September
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Apple Computer Inc. AAPL.O said   on Thursday an internal probe uncovered irregularities related   to the company's issuance of stock option grants between 1997   and 2001.
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IT company Unisys is under investigation by the federal government following the revelation that it may have failed to detect a break-in by Chinese hackers to Homeland Security computers.
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Looking to regain its footing, Computer Associates (Quote, Chart) will reportedly tap IBM (Quote, Chart) veteran John Swainson as CEO.
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New York state Attorney General Andrew Cuomo has launched an antitrust investigation of Intel, and on Thursday, his office served a wide-ranging subpoena on the company.Cuomo is investigating whether Intel violated state and federal antitrust laws by coercing customers to exclude its main rival, Advanced Micro Devices, from the worldwide market for PC CPUs (central processing units), Cuomo said in a news release.The subpoena seeks information on Intel&#8217;s pricing practices and possible attempts to exclude competitors through its market power, Cuomo&#39;s office said.(More to come.)
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(InfoWorld) - The former legal counsel for McAfee is facing federal charges of improperly backdating stock options at the security software company. Kent Roberts, 50, of Dallas, was indicted Tuesday by a federal grand jury on seven counts of fraud for improperly backdating options between 2000 and 2002, according to a statement from the U.S. Attorney's Office for the Northern District of California in San Francisco. Roberts is charged with "devising a scheme to defraud by granting himself and others valuable in-the-money stock options while hiding the true nature and value of the stock option grants," the statement says. Roberts hid the fraud from the company, then known as Network Associates, its board, shareholders, auditors, and the U.S. Securities and Exchange Commission (SEC). Roberts joins a small butÂ growing list of executivesÂ or former executives of companies charged in the U.S with improperly backdating stock options grants to make them more profitable for the recipients, but at the expense of shareholders. More than 100 U.S. companies are under investigation by the SEC, federal prosecutors, or through internal audits. According to the indictment, the Network Associates board granted Roberts the option to buy 20,000 shares of Network Associates' stock at the strike price of $29.62, which was the price at which the stock closed on Feb. 14, 2000. In late 2000, Roberts became concerned that his options were "underwater," that is, the $29.62 exercise price of the grant was more than the market price for stock. Roberts allegedly caused Network Associates' then-controller to change the grant date and exercise price in the computer system that recorded stock option grants. The grant date was changed to April 14, 2000, with a new exercise price of $19.75. Furthermore, Roberts implicated the then-controller in the improper backdating of other stock options for consultants to the company. Roberts initiated an investigation in 2002 and recommended that the controller be removed from his position. Roberts also participated in a conference call with the SEC at the time, in which he implicated the controller. All the while, the indictment says, Roberts never mentioned that the controller backdated his options, too. The government also says that Roberts altered board meeting minutes to change the date on which options were granted to the company's then-CEO and chairman. He allegedly changed the options date from Jan. 15, 2002, when the stock closed at $27.19, to Jan. 16, when it closed at only $25.43. The greater the difference between the lower options price and the higher market price when the executive exercises the option, the greater the profit. Roberts is scheduled to be arraigned Thursday before Federal Magistrate Judge Joseph C. Spero in San Francisco. Roberts' attorney Neal Stephens could not be reached for comment.
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At first glance, it might seem as if Computer Associates has cleaned up its act. Yes, its former CEO and another top executive were indicted Wednesday for securities fraud and obstruction
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Former Computer Associates International Inc. chief executive Sanjay Kumar has been charged with securities fraud conspiracy and obstruction of justice in connection with a multibillion dollar accounting scandal at the software company.
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The U.S. Securities and Exchange  Commission is investigating Dow Jones & Co. Inc. board member  David Li over an insider trading case linked to News Corp.&#39;s  bid for the Wall Street Journal publisher, Dow Jones reported  on Wednesday.
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WASHINGTON - The Securities and Exchange Commission is considering recommending charges against two former Citigroup Inc. employees and a current employee, the financial-services giant said Friday.
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NEW YORK, September 23  - The former Chairman and CEO of Computer Associates International (CA.NYS), Sanjay Kumar, has been charged with securities fraud in a multi-billion dollar accounting scandal.
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The former Chief Executive Officer of Computer Associates was indicted by a federal grand jury in New York Wednesday for allegedly participating in a massive fraud conspiracy and an elaborate cover up of a scheme that cost investors
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TORONTO (CP) - The RCMP is investigating an alleged conspiracy to defraud shareholders and creditors by three current or past executives at building products maker Royal Group Technologies.
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Former Computer Associates International Inc. chairman and chief executive Sanjay Kumar has been charged with securities fraud, conspiracy and obstruction of justice in connection with a multibillion dollar accounting scandal at the software company.
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US regulators are set to investigate possible violations of the Sarbanes-Oxley legislation on accounting and corporate governance by Fannie Mae&#39;s former senior management.
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Computer Associates International Inc. and federal prosecutors reportedly are near a deal that could end a two-year accounting fraud investigation of the software company.
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update Former CEO Sanjay Kumar is indicted as Computer Associates agrees to a $225 million settlement in an ongoing accounting probe.