{"id":39149,"date":"2023-07-22T14:27:27","date_gmt":"2023-07-22T18:27:27","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/booz-allen-to-pay-377-5-million-in-settlement-over-past-billing-practices\/"},"modified":"2023-07-22T14:27:28","modified_gmt":"2023-07-22T18:27:28","slug":"booz-allen-to-pay-377-5-million-in-settlement-over-past-billing-practices","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=39149","title":{"rendered":"Booz Allen to pay $377.5 million in settlement over past billing practices"},"content":{"rendered":"
\n

Booz Allen Hamilton Holding Corp.
\n BAH,
\n -0.36%<\/bg-quote>
\n said late Friday it has agreed to a $377.5 million settlement with the Justice Department to end a previously disclosed investigation related to the government contractor\u2019s past charging practices. Booz Allen said in a filling that the probe was connected to \u201ccertain elements of the company\u2019s cost accounting and indirect cost charging practices\u201d from April 2011 through March 2021. The company said it will pay the government using cash on hand and also drawing on its revolving credit facility. Booz Allen had recorded a $350 million reserve related to the investigation and had expected the possible loss to be between $350 million and $378 million. \u201cThe company entered into the settlement agreement to avoid the delay, uncertainty and expense of protracted litigation\u201d and the agreement contains no admission of liability, Booz Allen said. Shares of Booz Allen were flat in the extended session Friday after ending the regular trading session down 0.4%. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Booz Allen Hamilton Holding Corp. BAH, -0.36% said late Friday it has agreed to a $377.5 million settlement with the Justice Department to end a previously disclosed investigation related to the government contractor\u2019s past charging practices. Booz Allen said in a filling that the probe was connected to \u201ccertain elements of the company\u2019s cost accounting […]<\/p>\n","protected":false},"author":1,"featured_media":1383,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-39149","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nBooz Allen to pay $377.5 million in settlement over past billing practices | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Booz Allen Hamilton Holding Corp. 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