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Investor Sues Booz Allen Over DOJ Billing Investigation

Law360, New York (November 13, 2017, 9:59 PM EST) -- A Booz Allen Hamilton investor on Monday sued the government contracting giant’s top brass in Delaware federal court after the company announced it was being investigated by the U.S. Department of Justice for its accounting and cost charging practices.

Celine Thum’s complaint says multiple audits and at least one internal employee had flagged deficiencies in the company's practices, but that the leaders “willfully or recklessly” didn’t disclose those issues. The resulting inflated stock caused the company to overpay about $7.8 million for stock repurchases processed between January...
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