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Stock Market & Financial Investment News

News Breaks
December 12, 2013
07:47 EDTCSCCSC receives Wells Notice from SEC Division of Enforcement
CSC disclosed last night that it received a Wells notice from the SECís Division of Enforcement on December 11. As previously disclosed, certain of the company's non-U.S. employees and certain of its former employees, have received Wells notices from the SECís Division of Enforcement in connection with its ongoing investigation of the company. CSC, through outside counsel, has been in discussions with the SEC Enforcement Staff concerning a potential resolution of the investigation. CSC noted that to date, those discussions have not resulted in a resolution. CSC said it intends to "avail itself of the Wells process by making a Wells submission to explain its views concerning such matters, which are aided by the Company Audit Committee's independent investigation and certain expert opinions of outside professionals." CSC added that it is unable to estimate with "confidence or certainty how long the SEC process will last or its ultimate outcome, including whether the Company will reach a settlement with the SEC and, if so, the amount of any related monetary fine and other possible remedies."
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