Computer Sciences: Options Probe Over

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Computer Sciences Corp. said late Monday that federal regulators do not plan any action against the company now that an investigation into the company’s stock option granting practices was completed.


The El Segundo-based information technology services provider said the Securities and Exchange Commission notified it that the investigation, which started in February, was officially over and that no wrongdoing was found.


Computer Sciences said in February that an internal investigation had found $59 million worth of charges related to backdating, and it would need to restate more than 10 years of earnings. The company also said that employees did not intentionally backdate grants.


Computer Sciences was one of more than a dozen Southern California companies, and more than 200 companies nationwide, either mentioned or officially involved in stock options probes.


Shares in Computer Sciences gained 1.4 percent in early trading Tuesday to $51.10.

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