Defendant Name: DXC Technology Company

Defendant Type: Public Company
SIC Code: 7373
CUSIP: 23355L10

Initial Case Details

Legal Case Name In the Matter of DXC Technology Company
First Document Date 14-Mar-2023
Initial Filing Format Administrative Action
File Number 3-21342
Allegation Type Issuer Reporting and Disclosure
AAER 4391

Violations Alleged

Exchange Act
• Rule 12b-20
• Sec 13(a)
• Rule 13a-1
• Rule 13a-11
• Rule 13a-13
• Rule 13a-15
Securities Act
• Sec 17(a)(2)
• Sec 17(a)(3)
Other
• Rule 100(b) Regulation G Exchange Act

Resolutions

First Resolution Date 14-Mar-2023
Headline Total Penalty and Disgorgement $8,000,000

Related Documents:

33-11166 14-Mar-2023 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On March 14, 2023, the SEC instituted settled cease-and-desist proceedings against DXC Technology Company, stating: "This matter concerns material misstatements made by DXC in its reporting and disclosures of non-GAAP financial performance measures, including non-GAAP net income and non-GAAP diluted earnings per share (“EPS”), in multiple quarterly and annual Exchange Act reports and earnings releases."
2023-49 14-Mar-2023 Press Release--Administrative Proceeding
SEC Charges IT Services Provider DXC Technology Co. for Misleading Non-GAAP Disclosures
The SEC stated that: "[It] charged DXC Technology Company, an IT services company in Ashburn, Virginia, with making misleading disclosures about its non-GAAP financial performance in multiple reporting periods from 2018 until early 2020."