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Kuwait’s Agility says U.S. did not file new suit
Firm denies Reuters reports that US prosecutors have filed a civil suit
January 9, 2011 2:26 by Reuters
Kuwaiti logistics firm Agility said on Sunday that the latest report about a new civil case filed against the firm was not true.
“The new civil case it spoke about is not a new lawsuit against Agility, but a procedural amendment to the case that was announced in November 2009,” Agility said in a statement on the Kuwaiti bourse website.
On Friday, Reuters reported that U.S. prosecutors have filed a civil suit against Kuwaiti logistics company Agility, accusing it of defrauding the government over food product contracts to the U.S. military in the Middle East worth $9.8 billion.
The firm’s shares were down 5 percent at GMT 0723 on the news.
A criminal case was filed in November 2009 when prosecutors accused Agility, formerly Public Warehousing Co K.S.C., of overcharging the U.S. Army over 41 months on $8.5 billion in contracts first signed at the start of the Gulf War in 2003.
If convicted, the company faces a fine of twice the gains it realized or twice the loss to the United States.
The logistics firm was the largest supplier to the U.S. Army in the Middle East during the war in Iraq and the case is politically sensitive in both Washington and Kuwait.
(Reporting by Eman Goma; Editing by Shaheen Pasha )