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Agility's US court hearing set for Jan 29

Dubai, January 11, 2010

Kuwaiti logistics firm Agility's court hearing for its US fraud case has been rescheduled for January 29 at 10:30 am Eastern time (1530 GMT), the company's spokesperson said

In November, Agility was accused of overcharging the US
Army on $8.5 billion worth of contracts to provide food to soldiers in Iraq, Kuwait and Jordan.

If Agility loses the case, it will face probation and a fine of up to twice the gain it realised or twice the loss to the United States.

Agility's shares have plunged about 41 percent since November 16 after the firm was indicted by a US grand jury. -Reuters




Tags: Agility | Kuwait | US court |

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