Computer Associates (CA) former CEO and head of sales both added their guilty pleas to those of five other former company executives yesterday, admitting fraud, obstructing justice, and perjury.
Former CEO Sanjay Kumar and his head of worldwide sales Stephen Richards presided over a “systemic, company-wide practice of falsely and fraudulently recording and reporting.
the software company under investigation for its accounting, Thursday said it will revise its filings for the second half of 2003 to defer recognition of about $9 million in revenue, due to an adjustment in the way the company calculates subscription revenue.
The Islandia-based software company also said it will report results for the fiscal fourth quarter ended March 31 up to two weeks later than planned, due to the work involved in the restatement.
Computer Associates was set to report fourth-quarter and full-year fiscal 2004 results May 12
The former vice president of finance of Computer Associates, the US software giant, has pleaded guilty in an audit probe case.
David Rivard pleaded guilty to conspiracy to commit securities fraud and obstruct justice.
US prosecutors and the Securities and Exchange Commission have spent two years investigating allegations that the firm inflated its accounts