UPDATE ~ Former Computer Associates CEO pleads not guilty to charges Amit Patel at 1:30 PM ET
Sanjay Kumar, former Computer Associates International Inc. chief executive, pleaded not guilty to charges of securities fraud and obstruction of justice today. The charges stem from a two-year investigation into accounting fraud at the company.
As reported yesterday on JURIST's Paper Chase, Kumar's indictment was unsealed on Wednesday after Computer Associates agreed to pay shareholders $225 million in a settlement of charges that the company improperly booked $2.2 billion in revenue. Read the details and watch the webcast discussing the agreement on the Computer Associates website here. Read the SEC press release related to the charges against Kumar here. Read the SEC complaint against Kumar here [PDF]. Reuters has more.
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