CA was denied a chance by a federal judge to try to force company founder Charles Wang to be liable for the costs of the $2.2 billion accounting scandal at the software company.
According to a report in Newsday, U.S. District Judge Thomas Platt blamed the company, formerly known as Computer Associates, for not trying three years ago to alter a 2003 shareholder settlement agreement that protected Wang and several other former executives from a lawsuit.
The judge pointed out that the statute of limitations has expired and said he wouldn't allow CA's lawyers to "railroad this court" into reopening it.
Platt noted that CA had not joined an effort in 2004 by shareholder activist Sam Wyly to invalidate the no-sue clause. Wyly's firm, Ranger Governance, has appealed a decision denying its request to invalidate the clause.
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