Two former Computer Associates executives settled Securities and Exchange Commission charges that they participated in a widespread practice that resulted in the software maker's improper recognition of revenue.
Without admitting or denying the SEC's charges, CPAs and former CA vice presidents of finance David Rivard and David Kaplan agreed to give up "ill-gotten gains" and to pay civil penalties. Rivard, 36, of East Setauket, N.Y., agreed to give up $83,700 in ill-gotten gains and interest and to pay a $75,000 civil penalty. Kaplan, 38, of Melville, N.Y., agreed to disgorge $128,770 and to pay a $100,000 civil penalty. Rivard and Kaplan both previously agreed to be barred from serving as an officer or director of a publicly held company and to permanent injunctions against violating securities laws.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access