Computer Sciences Corp. settles securities class action for $97.5 million

June 12, 2013 by

Stocks and sharesComputer Sciences Corp. (CSC) avoided an imminent trial scheduled for May 21 by agreeing to pay $97.5 million to settle a class action lawsuit.

The lawsuit, filed on behalf of investors who acquired Computer Sciences common stock from August 5, 2008, to December 27, 2011 alleged that CSC filed false financial statements with the Securities & Exchange Commission (SEC) and failed to disclose material facts including the company’s performance on a $5.4 billion electronic patient records contract with the U.K.’s National Health Service.

The proposed settlement is subject to approval by a judge.

Steve Larson
An experienced trial lawyer who handles both hourly and contingent fee cases, Steve has expertise in class actions, consumer cases, antitrust litigation, securities litigation, corporate disputes, intellectual property disputes, unfair competition claims, employment matters, and disputes involving family wealth. Steve regularly represents individuals and businesses in federal and state court and has obtained class-wide recovery in multiple class actions. A veteran practitioner, Steve's clients value his creative approach to resolving complex litigation matters.

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