DALLAS, Jan. 25, 2012 /PRNewswire/ -- Goldfarb Branham LLP is investigating possible breaches of shareholder protection laws by certain officers and directors at SAIC (NYSE: SAI). Concerned shareholders who would like more information about their rights and remedies can contact securities attorney Hamilton Lindley at 877-583-2855 or by email at [email protected].
SAIC's board oversaw the company while it was entangled in an overbilling and kickback scandal. A SAIC implemented workforce management system called CityTime allegedly overbilled New York City, according to the United States Attorney's Office. On May 27, 2011, a criminal complaint was filed against the former CityTime program manager alleging he conspired to defraud New York City into extending and overpaying for the CityTime project and personally received kickbacks of $5.6 million. Then, on June 2, 2011, SAIC disclosed that its own internal investigation could not validate all the time recorded to the CityTime program by its program manager. Securities lawyers at Goldfarb Branham plan to file a shareholder lawsuit to remedy these breaches of fiduciary duty which seeks to restore value to the company and its investors.
Goldfarb Branham LLP lawyers have significant experience representing shareholders and whistleblowers in securities lawsuits nationwide. SAIC shareholders – or anyone with knowledge about this situation – should contact lawyer Hamilton Lindley at [email protected] or 877-583-2855.
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SOURCE Goldfarb Branham LLP