SAIC City Time Class Action Law Suit Filed in NYC Shareholders :o

By Suzannah B. Troy :) - Posting #202 - Valcichs Letter

Robbins Geller Rudman & Dowd LLP File Law Class Action SAIC Law Suit!!!

Folks three law suits against SAIC CityTime ...Hello NYC!

Excerpt: "The complaint alleges that during the Class Period defendants issued materially false and misleading statements regarding the Company's financial performance and future prospects. Specifically, defendants misrepresented and/or failed to disclose the following adverse facts:

(a) that SAIC had overbilled New York City hundreds of millions of dollars on the CityTime Project, a project associated with the modernization of New York City's employee payroll system, over a multi-year period;

(b) that, as a result of SAIC's known, but undisclosed, overbilling practices, its operating results during the Class Period were materially misstated;

(c) that SAIC's overbilling practices subjected the Company to numerous undisclosed risks, including monetary risks and reputational risks, particularly because government agencies are SAIC's primary customers and any harm to its reputation and/or relationships with such agencies would adversely affect its future revenues and growth prospects;

(d) that, as a result of the foregoing circumstances, SAIC violated applicable accounting standards associated with the recognition of revenue and the disclosure and accounting for loss contingencies;

(e) that the Company's financial statements were not fairly presented in conformity with generally accepted accounting principles and were materially false and misleading;

(f) that certifications issued by defendants Kenneth C. Dahlberg and Mark W. Sopp associated with the Company's internal and disclosure controls were materially false and misleading; and

(g) that, based on the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and its business and prospects.

"The revelation that SAIC would incur a probable loss on CityTime was significant because, pursuant to applicable accounting rules, it served as an acknowledgement that, once the Company could reasonably estimate the amount, SAIC would incur a charge against its earnings for the wrongful conduct alleged herein on CityTime. "

CityTime SAIC Update Stampede of Law Firms File NY Class Action Law Suits

Watch this for bigger picture, the cover-ups from the fact this went on way back and CityTime massive fraud as exposed in NYC gov office of payroll letter -- feb 2003 where Richard Valcich sites even more correspondence and communications with SAIC that indicate less than ethical behavior and my guess back in time Rudy Time because system was always flawed. Mije should have thrown out CityTime the way Mike threw out Rudy's Maximus. Mike instead pushed over 700 million over ride of tax payer money on the books. Rudy and Mike forget white house jobs; Note media protecting Team Bloomberg and Christine Quinn all implicated CityTime besides illegal slushy 3rd term. SAIC also protected.

1. SAIC, Inc. : The Law Firm of Levi & Korsinsky Notifies Investors with Losses on Their Investment in SAIC, Inc. of Class Action Lawsuit and the Deadline of April 23, 2012 to Seek a Lead Plaintiff Position

Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased SAIC, Inc. ("SAIC" or the "Company") (NYSE: SAI) stock between April 11, 2007 and September 1, 2011 (the "Class Period").

More information here: http://www.zlk.com/saic-sai. There is no cost or obligation to you.

The complaint alleges that during the Class Period defendants issued materially false and misleading statements regarding the Company's financial performance and business prospects. Specifically, defendants misrepresented and/or failed to disclose the following adverse facts: (a) that SAIC overbilled New York City hundreds of millions of dollars on the CityTime Project, a project associated with the modernization of New York City's employee payroll system, over a multi-year period; (b) that, as a result of SAIC's overbilling practices, its operating results during the Class Period were materially misstated; (c) that SAIC's overbilling practices subjected the Company to numerous undisclosed risks, including monetary and reputational risks; (d) that, as a result of the foregoing circumstances, SAIC violated applicable accounting standards associated with the recognition of revenue and the disclosure and accounting for loss contingencies; (e) that the Company's financial statements were not presented in conformity with Generally Accepted Accounting Principles and were materially false and misleading; (f) and that certifications issued by defendants Kenneth C. Dahlberg and Mark W. Sopp associated with the Company's internal and disclosure controls were materially false and misleading.

On August 31, 2011, SAIC announced a decline of approximately 6% in revenue and 23% in operating margin for the second quarter of 2012, ending July 31, 2011. Following this announcement, defendants also disclosed that the Company would likely have to make restitution to New York City for wrongful conduct on the CityTime Project. In response to this disclosure, shares of SAIC common stock dropped from $15.00 per share on August 31, 2011 to $12.97 on September 1, 2011 on heavy volume.

If you suffered a loss in SAIC, you have until April 23, 2012 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (877) 363-5972, or visit http://www.zlk.com.

Attorney advertising. Prior results do not guarantee a similar outcome.

Levi & Korsinsky, LLP
Joseph Levi, Esq. or Eduard Korsinsky, Esq., (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

2. SAIC, Inc. : Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against SAIC.

Rigrodsky & Long, P.A. announces that a lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities that purchased the common stock of SAIC, Inc. ("SAIC" or the "Company") (NYSE:SAI) between April 11, 2007 and September 1, 2011 (the "Class Period"), alleging violations of the Securities Exchange Act of 1934 (the "Complaint").

If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Scott J. Farrell, Esquire of Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, NY at (888) 969-4242, by e-mail to info@rigrodskylong.com, or at http://www.rigrodskylong.com/investigations/saic-inc-sai.

SAIC describes itself as a scientific, engineering, and technology applications company that uses its deep domain knowledge to solve problems of importance to the nation and the world, in national security, energy & environment, health, and cybersecurity. The Complaint names SAIC and certain of the Company's officers and/or directors as defendants, and alleges that during the Class Period, defendants made materially false and misleading statements concerning the Company's business and prospects. Specifically, the Complaint alleges defendants misrepresented and/or failed to disclose that: (1) over a multi-year period, SAIC had overbilled New York City hundreds of millions of dollars on the CityTime project - an initiative associated with the modernization of New York City's employee payroll system; (2) as a result of these overbilling practices, its operating results during the Class Period were materially misstated; (3) SAIC's overbilling practices subjected the Company to numerous undisclosed risks, including monetary risks and risks to the Company's reputation; (4) as a result of the foregoing, SAIC violated applicable accounting standards associated with the recognition of revenue and the disclosure and accounting for loss contingencies; (5) the Company's financial statements were not fairly presented in conformity with generally accepted accounting principles and were materially false and misleading; (6) certifications associated with the Company's internal and disclosure controls, issued by defendants Dahlberg and Sopp, were materially false and misleading; and (7) based on the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and its business and prospects.

Following the Company's 2012 fiscal second quarter earnings announcement on August 31, 2011, defendants held a conference call with analysts and investors, and disclosed, for the first time, that the Company's revenues were, in part, impacted by the "wind[ing] down" of the CityTime contract, and while the Company could not quantify the amount, it believed that it was "probable" that it would have to make restitution to New York City for wrongful conduct on CityTime.

As a result of the foregoing disclosures, the price of SAIC common stock fell approximately 14%, from $15.00 per share on August 31, 2011 to $12.97 per share on September 1, 2011.

If you wish to serve as lead plaintiff, you must move the Court no later than April 23, 2012. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

While Rigrodsky & Long, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

Attorney advertising. Prior results do not guarantee a similar outcome.

Rigrodsky & Long, P.A.
Timothy J. MacFall, Esquire
Scott J. Farrell, Esquire
888-969-4242
516-683-3516
Fax: 302-654-9430
info@rigrodskylong.com
http://www.rigrodskylong.com

3. SAIC, Inc. : Law Offices of Howard G. Smith Announces Class Action Lawsuit Against SAIC.

Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of purchasers of the common stock of SAIC, Inc. ("SAIC" or the "Company") (NYSE:SAI) between April 11, 2007 and September 1, 2011, inclusive (the "Class Period"), seeking to pursue remedies under the Securities Exchange Act of 1934. The class action lawsuit was filed in the United States District Court for the Southern District of New York.

SAIC provides scientific, engineering, systems integration and technical services and solutions to the U.S. Department of Defense, the U.S. Department of Homeland Security, other U.S. Government civil agencies, the intelligence community and customers in selected commercial markets. Since 2000, the Company has developed and implemented an automated timekeeping and workforce management system ("CityTime") for certain agencies of the City of New York. The Complaint alleges that defendants misrepresented or failed to disclose material adverse facts about the Company's financial performance and prospects, including that: (i) SAIC had overbilled New York City hundreds of millions of dollars on the CityTime project over a multi-year period; (ii) as a result of SAIC's overbilling practices, its operating results during the Class Period were materially misstated; (iii) SAIC's overbilling practices subjected the Company to numerous undisclosed risks, including monetary risks and reputational risks, particularly because government agencies are SAIC's primary customers and any harm to its reputation and/or relationships with such agencies would adversely affect its future revenues and growth prospects; (iv) as a result of the foregoing, SAIC violated applicable accounting standards associated with the recognition of revenue and the disclosure and accounting for loss contingencies; (v) the Company's financial statements were not fairly presented in conformity with generally accepted accounting principles and were materially false and misleading; (vi) certifications issued by certain of the defendants associated with the Company's internal and disclosure controls were materially false and misleading; and (vii), based on the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and its business and prospects.

No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased SAIC common stock between April 11, 2007 and September 1, 2011, you have certain rights, and have 60 days from the date of this Notice to move for lead plaintiff status. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.

Attorney advertising. Prior results do not guarantee a similar outcome.

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com

Holzer Holzer & Fistel, LLC Announces Investigation into Potential Claims for Breaches of Fiduciary Duty by Certain Officers and Directors of SAIC, Inc.

ATLANTA, Mar 02, 2012 (BUSINESS WIRE) -- Holzer Holzer & Fistel, LLC announces that it is investigating potential breaches of fiduciary duty by certain officers and directors of SAIC, Inc. ("SAIC" or the "Company") SAI.

On February 23, 2012, a class action lawsuit was filed in the United States District Court for the Southern District of New York alleging that SAIC violated the federal securities laws between April 11, 2007 and September 1, 2011 (the "Class Period"). The lawsuit alleges, among other things, that SAIC overbilled New York City by hundreds of millions of dollars in connection with the CityTime Project.

Holzer Holzer & Fistel, LLC's investigation seeks to determine if the allegations contained in the class action complaint also give rise to the separate claims against the Board of Directors for breaches of fiduciary duty, which could be enforced on behalf of the Company through shareholder derivative litigation.

If you are a long term holder of SAI shares and would like to discuss your legal rights, you may contact Michael I. Fistel, Jr., Esq. or Marshall P. Dees, Esq. via email at mfistel@holzerlaw.com, or mdees@holzerlaw.com, or via toll-free telephone at (888) 508-6832.

Lieff Cabraser Heimann & Bernstein, LLP Announces Class Action Lawsuit Against SAIC, Inc.

SAN FRANCISCO--(EON: Enhanced Online News)--The law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that a class action lawsuit has been brought on behalf of purchasers of the common stock of SAIC, Inc. (“SAIC” or the “Company”) (NYSE: SAI) between April 11, 2007 and September 1, 2011, inclusive (the “Class Period”).

If you purchased SAIC common stock during the Class Period, you may move the Court for appointment as lead plaintiff by no later than April 23, 2012. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the action will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.

SAIC shareholders who wish to learn more about the action and how to seek appointment as lead plaintiff should click here or contact Sharon Lee of Lieff Cabraser toll free at (800) 541-7358.

Hagens Berman Investigates Knowledge of SAIC Top Management of Overbilling Scheme, Encourages Whistleblowers to Contact the Firm

BERKELEY, Calif., Feb. 27, 2012 /PRNewswire via COMTEX/ -- Hagens Berman today announced it is investigating SAIC SAI +0.48% regarding alleged violations of the securities laws and asked that insiders with information relevant to the investigation, or investors desiring to be a lead plaintiff, contact the firm for a consultation.

"We hope to speak to individuals who have non-public information that might be relevant to the investigation," said Hagens Berman Partner Reed R. Kathrein, who is leading the firm's investigation. "We need to dig deeper and uncover who in SAIC's top management knew about the failure to disclose possible overbilling in the CityTime project, which we believe may have artificially inflated the company's stock price."

Whistleblowers and investors can reach Mr. Kathrein by calling (510) 725-3000.

WAKE UP AMERICA!!!....Its "OUR" country!!!

Love "Light" and Energy

_Don 　　　

References:

Giuliani Partners

LeviKorsinsksy

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