On June 5, 2015, the SEC issued an Order Instituting Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933, Sections 4C and 21C of the Securities Exchange Act of 1934, and Rule 102(e) of the Commission’s Rules of Practice, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order (the “Order”) finding that Computer Sciences Corporation (“CSC”), Michael Laphen (“Laphen”), Michael Mancuso (“Mancuso”), Wayne Banks (“Banks”), Claus Zilmer, and Paul Wakefield (collectively, the “Respondents”) violated the federal securities laws¹. The Order stated that from 2009 to 2011, CSC engaged in a wide-ranging accounting and disclosure fraud that materially overstated its earnings and concealed from investors significant problems with its largest contract. Former CEO Laphen approved CSC’s use of improper accounting models for the company’s multi-billion dollar contract with the United Kingdom’s National Health Service (“NHS”). Laphen and former CFO Mancuso also failed to make required disclosures and made misleading statements to investors about the NHS contract. And in one quarter, CSC’s former Finance Director for the NHS account prepared a fraudulent accounting model in which he included made-up assumptions to avoid a negative hit to CSC’s earnings. As this was occurring in the United States and the United Kingdom, senior CSC finance personnel in Australia fraudulently overstated the company’s earnings using “cookie jar” reserves and by failing to record expenses as required. Separately, CSC finance personnel in Denmark engaged in a variety of fraudulent accounting manipulations that also overstated the company’s earnings. Throughout this period, CSC’s most senior executives and various finance personnel repeatedly failed to comply with straightforward accounting standards and disclosure rules. Pursuant to the Order, CSC paid a civil money penalty of $190,000,000; Laphen paid a civil money penalty of $750,000; Mancuso paid a civil money penalty of $175,000; and Banks paid disgorgement of $10,990 and prejudgment interest of $2,400. The Order also created the Computer Sciences Fair Fund pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, as amended, for the distribution to harmed investors.

Additionally, in two related district court actions, defendant William Sutcliffe was ordered to pay disgorgement of $6,003.33 and prejudgment interest of $1,060.62² and Edward Parker was ordered to pay disgorgement of $2,800 and prejudgment interest of $750³. These payments were paid to the Commission and transferred into the Computer Sciences Fair Fund. In total, $190,948,983.95 was paid into the Computer Sciences Fair Fund.

On June 22, 2016, the Commission appointed GCG to serve as the Fund Administrator to assist in developing a Distribution Plan of the Computer Sciences Fair Fund pursuant to which monies in the Computer Sciences Fair Fund will be distributed to investors harmed by the violations alleged in the Order. The Fund Administrator is authorized to oversee the administration of claims and the distribution of the Computer Sciences Fair Fund pursuant to the terms of the Distribution Plan, which can be found at the administration website, subject to the approval of the Commission.

The Computer Sciences Fair Fund is separate and independent from the settlement funds previously established in the Computer Sciences Class Action. However, the Computer Sciences Fair Fund relates to allegations similar to those asserted in the Computer Sciences Class Action during the same time period at issue in the Computer Sciences Class Action – i.e., from August 5, 2008 through December 27, 2011, inclusive. Therefore, if you submitted a proof of claim form to participate in the Computer Sciences Class Action and that claim was approved, you do not need to submit another Proof of Claim Form for your Approved Transactions in order to participate in the Computer Sciences Fair Fund. If you had purchases of Computer Sciences common stock during the Relevant Period (i.e., the period August 5, 2008 through December 27, 2011) in addition to your Approved Transactions, you must submit a Proof of Claim Form in order to recover for those purchases from the Computer Sciences Fair Fund.

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¹ See Securities Act Rel. No. 9804 (June 5, 2015).
² Securities and Exchange Commission v. Wilfred Sutcliffe, No. 15-cf-4340 (RJS) (S.D.N.Y. Sept. 9, 2015).
³ Securities and Exchange Commission v. Edward Parker, No. 15-cf-4341 (ER) (S.D.N.Y. Sept. 9, 2015).

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You received a Notice because records indicate you may have purchased or acquired Computer Sciences Corporation common stock between August 5, 2008 and December 27, 2011, inclusive. The notice you received is designed to notify you of the settlement reached and to inform you that you may be eligible to receive payment from the Computer Sciences Fair Fund.

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To qualify for a payment from the Computer Sciences Fair Fund, you must satisfy certain eligibility criteria that are described in detail in the Distribution Plan and the Plan of Allocation, attached to the Distribution Plan as Exhibit A. Those criteria include the following:

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1. You must have purchased or acquired Computer Sciences Corporation common stock between August 5, 2008 and the close of trading at 4:00 p.m. EDT on December 27, 2011, inclusive, as described in the Plan of Allocation.
2. Your approved transactions must calculate to a Total Eligible Loss Amount and your Distribution Payment must equal or exceed $10.00

Please note that the deadline to submit a claim form and/or documentation has passed.

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You are excluded from participation in the Computer Sciences Fair Fund if you are:

1. A Respondent in this action;
2. A member of the immediate family (spouse or children) of any Respondent;
3. A person who was an officer or director of Computer Sciences Corporation during the Relevant Period;
4. A firm, trust, corporation, officer, or other entity in which any Respondent has or had controlling interest; or
5. Computer Sciences Corporation’s directors’ and officers’ liability insurance carriers, and any affiliates of subsidiaries thereof.

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Approximately $190,948,983.95

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Please note that the deadline to submit a claim form and/or documentation has passed.

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Please note that the deadline to submit a claim form and/or documentation has passed.

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The deadline to submit a completed and signed Proof of Claim with the necessary documentation was September 11, 2017 (the “Claims Bar Date”). It must have been received by this date.

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The Fund Administrator will acknowledge receipt of your Claim Form by regular or electronic mail within 60 days receipt. Your claim is not deemed filed until you receive an acknowledgment postcard or e-mail. If you do not receive an acknowledgment postcard or e-mail within 45 days, please call the Fund Administrator toll free at 1-877-302-1075.

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Yes. If your Proof of Claim form was deficient, you would have received a Claim Deficiency Notice setting forth the reason why the claim is deficient. Please note that the deadline to submit a claim form and/or documentation has passed.

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Please note that the deadline to submit a claim form and/or documentation has passed.

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The initial distribution of the Fair Fund occurred on June 28, 2019. A supplemental disbursement occurred on February 22, 2023.

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The Court has appointed Garden City Group, LLC to serve as the Fund Administrator.

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Please note that the deadline to submit a claim form and/or documentation has passed. You can obtain a Distribution Plan Notice and Proof of Claim form by downloading these documents from this website by clicking on the tabs to the left.

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Additional information regarding the Computer Sciences Corporation Fair Fund can be found on this website. You can obtain additional information or request copies of forms and notices by calling the Computer Sciences Corporation Fair Fund’s toll-free hotline at 877-302-1075 in the United States, or by email at Questions@ComputerSciencesFairFund.com.

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The initial distribution of the Fair Fund occurred on June 28, 2019. A supplemental disbursement occurred on February 22, 2023. We are no longer honoring reissue requests from either distribution.

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