Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

U.S. Govt. Voluntarily Dismisses False Claims Act Case Against KBR

KBR Inc. (KBR: Quote) announced that the United States has voluntarily dismissed its False Claims Act case it filed against the company.

On April 1, 2010, the United States sued KBR for damages claiming that KBR had violated the False Claims Act by billing under LOGCAP III, which is KBR's logistics support contract with the Army. These costs were associated with armed private security contractors in Iraq.

KBR said it has faithfully supported American troops in Iraq and has performed its work in support of the Army with professionalism and in full compliance with its contract and the law. KBR has maintained that the LOGCAP contract did not prohibit the use of private security contractors.

The use of armed private security contractors was both reasonable and necessary given the dangerous, life-threatening conditions under which KBR and its subcontractors were asked to perform in Iraq.

Click here to receive FREE breaking news email alerts for KBR Inc and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Twitter Inc. has replaced its head of product Daniel Graf just six months after luring him over from Google, according to multiple reports. Graf, previously known for his work leading Google Maps, will retain his vice president of product title and work on Twitter's geolocation features, the Wall... LinkedIn Corp., the world's largest online professional network, said Thursday after the markets closed that its third quarter loss widened slightly from last year, as higher costs and expenses more than offset a 45% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue. Visa Inc., the world's largest payment card processor, said Wednesday that its fourth quarter profit fell 10% from last year, hurt mainly by a hefty litigation provision even as revenue increased 9%. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.