UNITED STATES OF AMERICA

UNITED STATES OF AMERICA

Before the

SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934

Release No. 96718 / January 19, 2023

ADMINISTRATIVE PROCEEDING

File No. 3-16575

:

In the Matter of

:

:

Computer Sciences Corporation,

:

Michael Laphen, Michael Mancuso, :

Wayne Banks, Claus Zilmer, and

:

Paul Wakefield,

:

:

Respondents.

:

ORDER DIRECTING SECOND

DISTRIBUTION

On March 13, 2017, the Secretary, pursuant to delegated authority, published a Notice of

Proposed Plan of Distribution and Opportunity for Comment (“Notice”),1 pursuant to Rule 1103

of the Commission’s Rules on Fair Fund and Disgorgement Plans (“Commission’s Rules”);2 and

simultaneously posted the Proposed Plan of Distribution (the “Proposed Plan”). The Notice

advised interested persons that they could obtain a copy of the Proposed Plan from the

Commission’s public website or by submitting a written request to Nancy Chase Burton, Esq.,

United States Securities and Exchange Commission, 100 F Street, NE, Washington, DC

20549-5876. The Notice also advised that all persons desiring to comment on the Proposed Plan

could submit their comments, in writing, within 30 days of the Notice. The Commission

received no comments on the Proposed Plan during the comment period. On April 28, 2017, the

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2

Exchange Act Rel. No. 80233 (Mar. 13, 2017).

17 C.F.R. § 201.1103.

Secretary, pursuant to delegated authority, issued the Order Approving Plan of Distribution,3 and

posted the approved Plan of Distribution (the “Plan”). The Plan provides for the distribution of

the Fair Fund,4 plus accumulated interest, less taxes, fees, and expenses, to the harmed investors

according to the methodology set forth in the Plan. The Plan further provides that if, after the

initial distribution, any funds remain, the remaining funds can be distributed to those otherwise

Eligible Claimants who filed claims with the Fund Administrator after the Claims Bar Date, or

who were late in curing a rejected claim (“Late Claimants”). Under the Plan, these Late

Claimants are to receive a distribution payment up to the Recognized Claim that they would have

received if they had filed their claims on time. The Plan further provides that if any funds

remain after the payment of claims that were filed late or cured after the Claims Bar Date, the

remaining residual funds may be distributed on a pro rata basis to all Eligible Claimants who

cashed a check or received a wire (“On-Time Claimants”), and who would receive at least the

Minimum Distribution Amount of $10.00.

On June 6, 2019, the Commission issued an Order Directing Disbursement of Fair Fund

(“Disbursement Order”),5 directing the disbursement of $194,454,692.00 from the Fair Fund to

the Fair Fund’s escrow account at The Huntington National Bank (“Huntington Bank Escrow

Account”). Pursuant to the Disbursement Order, the Fund Administrator has successfully

distributed $186,519,215.39 to On-Time Claimants (“Initial Distribution”).

The Fund Administrator has completed the Initial Distribution, and there is

$7,937,538.38 remaining in Fair Fund.

3

Exchange Act Rel. No. 80559 (Apr. 28, 2017).

All capitalized terms used herein but not defined shall have the same meanings ascribed to them in the Plan.

5

Exchange Act Rel. No. 86046 (June 6, 2019).

4

2

The Fund Administrator has identified twelve (12) Late Claimants. Given the amount

remaining in the Fair Fund, and after taking into account a reserve for any taxes, fees, or

expenses, the Fund Administrator recommends a distribution of $7,375,603.44 to the Late

Claimants and then to the On-Time Claimants in accordance with the Plan from the funds held in

the Huntington Bank Escrow Account.

Pursuant to the Plan, the Fund Administrator has submitted a payment file (“Payee List”)

to Commission staff with a reasonable assurances letter as to the completeness and accuracy of

the information contained therein. The Commission staff has reviewed and accepted the Payee

List and requests, pursuant to Rule 1101(b)(6) of the Commission’s Rules, 17 C.F.R.

§ 201.1101(b)(6), that the Commission authorize the Fund Administrator to distribute

$7,375,603.44 from the Huntington Bank Escrow Account in accordance with the Plan.

Accordingly, it is hereby ORDERED, that the Fund Administrator shall distribute

$7,375,603.44 from the Huntington Bank Escrow Account to the Late Claimants and On-Time

Claimants identified in the Payee List in accordance with the Plan.

For the Commission, by the Division of Enforcement, pursuant to delegated authority.6

Vanessa A. Countryman

Secretary

6

17 C.F.R. § 200.30-4(a)(21)(v).

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