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CSC says options inquiry is over

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From Times Staff and Wire Reports

El Segundo-based Computer Sciences Corp. said regulators ended a probe of the company’s stock-option grants without taking any action.

In June 2006, the computer-services provider disclosed that the Securities and Exchange Commission had made an informal request for information related to option grant practices. On Monday the company said the SEC had notified it that the inquiry was complete.

In February, CSC reported that it needed to restate more than a decade of results by $59 million to account for backdated stock options. But the company said then that an internal investigation had found that employees hadn’t intentionally backdated securities.

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CSC disclosed the end of the SEC probe after the stock market closed. During regular trading, Computer Sciences fell 94 cents to $50.38.

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