CA: Inquiries Remain Preliminary; No Execs Targeted

Computer Associates International

CA "has been informed that previously disclosed inquiries by the United States Attorney's Office and Securities and Exchange Commission are preliminary, that no one has been identified as a target, and that no conclusions have been reached," according to the statement.

The statement came after a report in The Wall Street Journal said the Justice Department and the SEC are jointly investigating whether CA improperly boosted financial results to help produce $1 billion in stock awards in 1998 for Chairman Charles Wang, President and CEO Sanjay Kumar and Executive Vice President Russell Artzt.

Islandia, N.Y.-based CA said "that it is continuing to cooperate fully with the inquiry, and that it continues to believe that its accounting for revenues from multiyear software-licensing agreements, which it had consistently applied since the early 1980s, was proper."

Shares of CA Friday closed up 13 cents at $21.18.