DOJ: “The U.S. Department of Justice is investigating some of the ways Booz Allen Hamilton Holding Corp (BAH.N), one of the largest consulting firms in the world, charges the government for services and accounts for costs, the company said in a filing on Thursday [6-15-17] that sent its shares down 12 percent after the bell.
The Justice Department informed a Booz Allen unit of the investigation earlier this month, Booz Allen said in the brief regulatory filing, adding that it was cooperating with the government. The company declined to comment beyond the filing and an identical statement it posted on its website.
Public affairs representatives at the Justice Department did not respond to requests for comment, but the agency as a rule does not make statements about ongoing investigations.
The firm said its audit processes had not identified any material weaknesses or ‘significant erroneous cost charging.’ “
-Lisa Lambert, “Booz Allen Hamilton says DOJ investigating its accounting practices,” Reuters, June 15, 2017 07:19pm