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A special committee of the board of CA(CA Quote) reportedly says Charles Wang, the companys founder and former chairman and CEO, was responsible for the mammoth accounting fraud that has bedeviled the software company and its shares.
The special committee also recommended legal action against Wang, who it contends "directed and participated" in fraud that forced the company to restate $2.2 billion in sales, according to Reuters.
The special committee released its report on its investigation into the fraud Friday.
But Wang, who owns the New York Islanders hockey team, issued a statement disputing the reports findings, Reuters reported. ...
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