Violation Tracker Individual Record

Company: 
Computer Associates International, Inc.
Current Parent Company: 
Broadcom
Penalty: 
$225,000,000
Year: 
2004
Date: 
September 22, 2004
Offense Group: 
financial offenses
Primary Offense: 
accounting fraud or deficiencies
Violation Description: 

Computer Associates International, Inc. agreed to pay $225 million in restitution to shareholders to settle SEC allegations that from 1998 to 2000 the company fraudulently kept its books open to record revenue from contracts executed after the quarter ended in order to meet Wall Street quarterly earnings estimates. The Justice Department case was brought jointly with a civil SEC case.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
U.S. Attorney-Eastern District of New York
Civil or Criminal Case: 
criminal
Prosecution Agreement: 
deferred prosecution agreement
HQ Country of Parent: 
USA
HQ State of Parent: 
California
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
electrical and electronic equipment
Specific Industry of Parent: 
electronic equipment
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.