SAIC Faces Investor Action Over CityTime Kickbacks

Law360, New York (February 10, 2012, 8:55 PM EST) -- SAIC Inc. and its directors were hit Friday with a putative shareholder derivative class action in California over $232 million in losses stemming from an alleged kickback scheme involving contractors tied to New York's CityTime project, a scandal that led to the indictments of several of its employees.

The suit, aimed at the company's board of directors and CEO, stems from a purported kickback scheme in which SAIC and TechnoDyne LLC allegedly collaborated to skim off millions of dollars in cash by working on CityTime, which...
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