UNITED STATES OF AMERICA

UNITED STATES OF AMERICA

Before the

SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934

Release No. 104908 / February 27, 2026

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 THIRD

DISBURSEMENT OF FAIR FUND

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, 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

1

2

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

17 C.F.R. § 201.1103.

comments on the Proposed Plan during the comment period. On April 28, 2017, the Secretary,

pursuant to delegated authority, issued an order approving the Proposed Plan,3 and posted the

approved Plan of Distribution (the “Plan”).

The Plan provides for the distribution of the Fair Fund, plus accumulated interest, less

taxes, fees, and expenses, to the harmed investors according to the methodology set forth in the

Plan. In accordance with the Plan, the Claims Bar Date has passed and all timely submitted

claims have been processed by the Fund Administrator. All investors whose claims have been

denied, in whole or in part, have been notified and provided the opportunity to cure.

On June 6, 2019, the Commission issued an Order Directing Disbursement of Fair Fund.4

On January 19, 2023, the Commission issued an Order Directing Second Distribution.5

Pursuant to these two orders, the Fund Administrator has disbursed a total of $201,830,295.44,

which is 22.17% of the Eligible Claimants’ Recognized Claim. There is approximately

$562.876.11 left in the Fair Fund, of which $509,253.62 is held by the Fund Administrator in the

Fair Fund’s escrow account at The Huntington National Bank NA as of December 31, 2025.

Given the amount remaining in the Fair Fund and, after taking into account a reserve of

$53,286.50 for any taxes or administrative costs, the Fund Administrator recommends further

distribution of the Fair Fund to Eligible Claimants according to the Plan of Allocation attached

as Exhibit B to the Plan.

Pursuant to the Plan, the Fund Administrator has submitted a payment file 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 payment file and

3

See Order Approving Plan of Distribution, Exchange Act Rel. No. 80559 (Apr. 28, 2017).

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

5

Exchange Act Rel. No. 96718 (Jan. 19, 2023).

4

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 transfer of $7,751.11 from the Fair Fund to the Fair Fund’s

escrow account at The Huntington National Bank NA and direct the Fund Administrator to

distribute at total of $517,004.73 to harmed investors in accordance with the Plan. The sum of

the payments made to the Eligible Claimants in all three tranches is 22.23% of their Recognized

Claims.

Accordingly, it is hereby ORDERED that: (1) the Commission shall transfer $7,751.11

from the Fair Fund and add it to the $509,253.62 held in the Fair Fund’s escrow account at the

Huntington National Bank NA; and (2) the Fund Administrator shall distribute $517,004.73 to

harmed investors 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).