The Securities and Exchange Commission is investigating Computer Sciences Corporation for possibly failing to report backdated stock options that were given to the company’s executives. CSC announced last month that they are cooperating with the investigation, which focuses on whether the backdated options increased the executives’ compensation.
The informal request by the SEC for information means there are now 52 companies being investigated by the SEC for possible backdating of stock option grants to executives.
Earlier this month, the company was regularly included on Schaeffer’s S&P 500 Index Hot Stocks list, and last week CSC announced that corporate VP and former CFO Leon (Lee) Level will retire at the end of the month.
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