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  "documentTitle": "Leidos Holdings, Inc. (LDOS)",
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  "authorName": "Ben Axler",
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  "presentationDate": "2021-02-16 00:00:00",
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  "notes": "Uses a 'red flag' callout to highlight the connection between past and present accounting irregularities.",
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      "kind": "callout",
      "text": "Spruce Point observes that Mr. Chadha has also removed reference to his role as Leidos' Chief Accounting Officer from his public LinkedIn biography. We observe he served in various accounting and financial reporting roles at Computer Sciences Corp during a tumultuous period when its executives were charged with accounting fraud and assessed a $190m penalty. Curiously, the fraud involved inflating unbilled receivables – the same accounts ballooning at Leidos with inconsistent explanation.",
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      "text": "LinkedIn profile screenshot for Ranjit Chadha",
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      "text": "SEC press release screenshot regarding CSC",
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      "text": "Warning: Inflated Unbilled Receivables Were Used To Conceal Customer Problems. Leidos Unbilled Receivables Have Recently Ballooned. 93. CSC also overstated its unbilled receivables in Q3FY2010 and Q4FY2010 in connection with another client dispute...",
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      "text": "SEC Charges CSC and Former Executives With Accounting Fraud Company to Pay $190 Million Penalty — SEC press release",
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      "text": "Source: SEC complaint",
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      "text": "Source: LinkedIn",
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      "text": "Chadha Worked At CSC During A Tumultuous Period Of Accounting Fraud",
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