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Computer Associates may face SEC civil suit

Computer Associates International on Monday said that it has received a notice from the U.S. Securities and Exchange Commission, stating that it may bring civil charges against the company for possible violations in securities law.

The "Wells Notice" the SEC sent to CA pertains to its investigation into how the company booked revenue in the fiscal year ended March 31, 2000. In October 2000, the SEC determined that the company stated revenue prematurely from contracts that had not been fully executed or finalized. In October 2000, CA made a change to how it reports revenue to address the SEC's investigation, the company said.