Computer Associates Loses Senior VP of Finance

A senior finance executive resigned from Computer Associates (CA - Cramer's Take - Stockpickr) and a former saleswoman filed a whistleblower lawsuit against the company, which is under investigation for accounting irregularities.

Senior Vice President of Finance David Kaplan resigned from the Islandia, N.Y.-based company Friday, Dow Jones Newswires reported late Wednesday. The software maker told the wire service he left to "pursue other opportunities."

Meanwhile, former saleswoman Laura Heinemann filed a whistleblower lawsuit last week against Computer Associates claiming she was harassed and fired after reporting improper accounting and employment practices to the company and government officials, according to news reports. CA, which sued Heinemann in June, claimed in court documents that she was fired for forging or attempting to forge a sales contract.

The developments come two months after CA ousted its CFO and two other finance executives over revenue-recognition practices. CA, which changed to a subscription-based revenue model in October 2000, has been under investigation by the Securities and Exchange Commission and the U.S. attorney's office for almost two years.

Shares of CA closed down 15 cents, or 0.7%, to $23.06 on Wednesday.