The former CEO read a statement to this effect on April 27, 2006 too.

ACS stated identical false information on May 10, 2006 in the statutory forms.

The complaint filed by the SEC in the federal district court in Washington, D.

C charges that ACS was engaged in a deceptive and fraudulent scheme from 1995 to 2006.

ACS shares were recently trading at $50.06, trimming 5.2%, or $2.74, off its stock price.

ACS is under scrutiny from the Securities and Exchange Commission and received a grand jury subpoena from the U. Attorney for the Southern District of New York related to the company's stock-option grant practices.

In addition, ACS failed to maintain accurate records of stock option grants and they were short of internal controls required for such grants.

The complaint lodged by SEC also reveals that during the period ACS was conducting internal investigation into the backdating episode through their former CEO and CFO, it denied that an intentional backdating had taken place.

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("ACS"), a former Fortune 500 company in the business of providing business process and information technology services, alleging that during the period 1995 to 2006, ACS backdated stock option grants to its officers and employees and falsely denied that officers at the company had engaged in intentional backdating.

ACS was later acquired by Xerox Corporation on February 5, 2010.

ASC has neither admitted nor denied the allegation filed by the SEC but has consented to a permanent injunction against the alleged violations.