Computer Sciences misled investors over UK health service contracts: SEC

New York

BRITAIN'S National Health Service has long provided free and universal healthcare to the country's residents. In one case, though, it appears to have provided an unusual therapeutic benefit to corporate America.

A US regulator asserted on Friday that the NHS made cash payments to a large US technology company that were used to make it look healthier than it truly was. In its action, the US Securities and Exchange Commission accused Computer Sciences Corp of overstating profits and concealing serious problems from its investors.

The SEC extracted a US$190 million penalty …