Former CA Execs Plead Guilty

Kumar co-owns the New York Islanders hockey team along with Charles Wang, the founder and former chairman of Computer Associates. Wang retired as chairman of Computer Associates in 2002, when Kumar took over.

"We haven't yet seen the terms of the settlement, but we will be disappointed in it unless it requires that Sanjay Kumar assist us and any other owner who desires to pursue all of those who benefited by these made-up, overstated earnings reports," said William A. Brewer III, the lead attorney for Sam Wyly, a major CA investor. "We believe that should include Charles Wang."

CA's management commented on the guilty pleas, saying in a written statement, "CA today is led by a new management team, which has been leading a complete transformation of the company. We are a dramatically different organization than we were two years ago, when both Mr. Kumar and Mr. Richards left the company.

"As we've focused on implementing a growth strategy and building a strong company to the benefit of shareholders, customers and employees, we've been careful to put in place a comprehensive infrastructure that promotes integrity, compliance and good governance. We believe we have made significant progress in all of these areas and will continue to do so in the future," the statement said.

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