Watchdog Group Opposes CA Director D'Amato

However, the group declined to campaign against Lewis Ranieri, the chairman of the board, saying: "While CA has clearly continued to endure tough times on Ranieri's watch as chairman, we are inclined to believe that he is part of the solution to the problems at CA rather than part of the problem." Ranieri joined the CA board in 2001 and has been chairman since April 2004.

Earlier this year, Amalgamated Bank LongView Funds called for the defeat of both directors.

A number of CA's former top executives, including one-time CEO Sanjay Kumar, have pleaded guilty to felony fraud charges and are awaiting sentencing. The prosecutions resulted from a $2 billion accounting fraud in which sales were recognized earlier than they were actually booked to help the company meet financial targets for certain quarters.

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