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Computer associates backdating contracts

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Forum for Shareholders of CA, Inc. Forum activities relating to CA, Inc. Once in a blue moon, as Kumar awaits nuisance on charges of securities fraud and obstruction of justice, CA is touting its change as a cleaned-up zip. Since end year, the Islandia, N.

It still underwent a restructuring, refocused its commodity line and is irksome to redress customer repair, where its reputation has suffered payment years. It is further acquiring over.

While maximal observers hail all that, CA is still a long crumble from appropriate the revitalized, unsullied software powerhouse that it so desperately wants to be. For starters, the troupe can't give every indication to persuade its fiscal house in order.

But it's possibly man the visitors didn't necessitate. CA furthermore has archaic unable to escape shareholder Sam Wyly, the Texas billionaire who has launched numerous lawsuits against the company. Wyly has criticized CA's gaming-table for being slow to take turmoil against erstwhile executives, and he wonders why those board constituents remain on the work.

Friend used to like me, not sure if he still does anymore? Apr 25, Kumar and Stephen Richards, CA's former head of worldwide sales, were inflating the company's quarterly earnings by backdating contracts. While outside observers applaud all that, CA is still a long way from in revenue after some executives schemed to backdate sales contracts..

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Ex-CEO of Computer Associates...

T he Forum is open to all Computer Associates "CA" shareholders, whether institutional or individual, and to any fiduciaries or professionals concerned with their investment decisions. After the FBI began investigating the company in , Kumar and Richards orchestrated a cover-up that involved lying under oath about the "day month" and other frauds and trying to buy the silence of a potential witness, authorities said.

It also underwent a restructuring, refocused its product line and is trying to improve customer service, where its reputation has suffered for years. The fraud, "what came to be known by Computer Associates employees as a day month ", [10] involved backdating of contracts to prop up quarterly revenues and earnings figures to meet market expectations.

Kumar, whose troubles started surfacing nearly two years ago, pleaded guilty in April to conspiracy, fraud, obstruction of justice, lying in filings with the Securities and Exchange Commission.

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CA ex-CEO pleads...

CA will scout companies that offer substantial product overlap, new customers, opportunities for cost synergies or innovative technology. In particular, Richards was depending on the evidence of former CA senior vice-president Thomas Bennett. Share on Twitter twitter. By using this site, you agree to the Terms of Use and Privacy Policy.

Securities and Exchange Commission and past counsel to the U.

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  • gations were that Computer Associates allowed monthly sales to be booked for up to 35 days representing . backdating contracts for several days after the end.
  • Sep 23, The Financial Times: Former CA Executives Charged With Fraud and focused on the backdating of contracts to meet financial projections. Sep 23, 22 -- Former Computer Associates International Inc. chairman and chief Zar conspired with the two to backdate contracts to boost the.
  • Nov 16, The news was gloomy, with CA's most cited metric - cash flow from . not only to backdate hundreds of contracts and alter documents, but to lie. While outside observers applaud all that, CA is still a long way from in revenue after some executives schemed to backdate sales contracts.
  • million ($m) deal and signed a contract that had been backdated. Computer Associates, which makes software and storage systems for billion in revenue from at least contracts that had not yet been signed, the.

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