SOURCE: Kahn Swick & Foti, LLC

July 27, 2011 20:10 ET

6 Days Left -- Kahn Swick & Foti, LLC and Former Louisiana Attorney General, Charles C. Foti, Jr. Remind Investors With Large Financial Interests (Over $100,000) of Lead Plaintiff Deadline in Lawsuit Against Computer Sciences Corporation (NYSE: CSC)

NEW ORLEANS, LA--(Marketwire - Jul 27, 2011) - Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that only 6 days remain to file lead plaintiff applications in a securities fraud class action lawsuit against Computer Sciences Corporation ("CSC") (NYSE: CSC). The lawsuit was filed in the United States District Court for the Eastern District of Virginia on behalf of purchasers of CSC common stock during the period between May 21, 2009 and May 25, 2011 (the "Class Period").

What You May Do

If you are a CSC shareholder and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, e-mail or call KSF Managing Partner, Lewis Kahn (lewis.kahn@ksfcounsel.com), toll free, 877-515-1850, or via cell phone any time at 504-301-7900. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by August 2, 2011.

KSF encourages institutional investors as well as aggrieved shareholders who have large financial interests to participate in this action. KSF also encourages anyone with information regarding CSC's conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.

About the Lawsuit

The complaint alleges that during the Class Period, defendants made false and misleading statements about the Company's financial condition and prospects, in violation of the Securities Exchange Act of 1934. The purported false statements included that: (i) the Company's historical and current financial results from its Managed Services Sector were false and in violation of Generally Accepted Accounting Principles; (ii) the implementation of the Company's Lorenzo 1.9 software was experiencing severe technical difficulties, rendering the Company unable to meet its customer contract milestones; (iii) as a result of these and other problems, CSC was experiencing significant weakness in demand for its products and services; and (iv) there was no reasonable basis for the fiscal 2011 revenue, earnings, bookings and margin forecasts made to the public during the Class Period.

After a series of partial disclosures, beginning on February 1, 2011, on May 25, 2011, after the market closed, the Company issued a press release that revealed, for the first time, that the Company's Audit Committee had begun an internal investigation into accounting irregularities in one of its service sectors. Thereafter, on May 26, 2011, CSC stock price fell $5.71 per share, causing investors material losses and damages.

About Kahn Swick & Foti, LLC

KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities class action and shareholder derivative litigation with offices in New York and Louisiana. To learn more about KSF, you may visit www.ksfcounsel.com.

Contact Information

  • Contact:

    Kahn Swick & Foti, LLC
    Lewis Kahn
    Managing Partner
    877-515-1850
    or after hours via cell phone 504-301-7900
    lewis.kahn@ksfcounsel.com
    206 Covington St.
    Madisonville, LA 70447