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For the letter reported below, from a law firm representing both the company and its board's independent "Special Litigation Committee," see


Newsday (as published by TCMnews), November 2, 2009 article



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James Bernstein column:

November 2, 2009 By JAMES BERNSTEIN


CA Inc., the Islandia-based software giant that was wracked by a $2.2-billion accounting scandal earlier this decade, has decided to continue its court fight to regain about $500 million from its founder and former chairman, Charles Wang, who was blamed in a blistering internal report for directing and participating in fraudulent activities.

Wang, who left CA in 2002 and is now hoping to develop the proposed Lighthouse project in Uniondale, has previously denied any wrongdoing and said he was "appalled" by the report issued in 2007 by a committee of outside CA directors.

In a letter last week to U.S. District Court Judge Thomas C. Platt, CA said it wants to press its case against Wang and Peter Schwartz, CA's former chief financial officer. Wang and Schwartz were never accused of any criminal wrongdoing in the federal government's case against the company, in which former chief executive Sanjay Kumar was jailed and other CA executives cooperated with federal investigators. Spokesmen for Wang and Schwartz did not return calls seeking comment.

Gary Lutin, who runs a shareholder forum on CA, said that a federal appellate court ruling "made it very clear that it was the company's duty to pursue these claims, so it should be reassuring to shareholders that they are doing so." CA chief counsel for litigation Gary Brown said in a statement, "CA will continue to vigorously pursue these matters to protect the interests of shareholders as well as the company."


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