CSC, Former Execs Charged By SEC With Manipulating Results

Computer Sciences Corp. and two former executives were charged by the Securities and Exchange Commission with manipulating financial results and concealing significant problems about the company's largest and most high-profile contract. CSC agreed to pay a $190 million penalty to settle the charges, and five of the eight charged executives agreed to settlements, including former CEO Michael Laphen returning more than $3.7 million to the company under the clawback provision and paying a $750,000 penalty. Sen. Elizabeth Warren this week chided SEC Chairwoman Mary Jo White for being recused on the CSC case, quoting from an article that said White's recusal at times imperiled the case.