KUWAIT, (Reuters) – Kuwaiti logistics firm Agility will postpone the release of its 2009 financial results until April 11 as it tries to reach a settlement with the U.S. government on a fraud case.
Agility, which had already delayed the results to April 6, said in a statement on Tuesday that it was waiting to see “whether or not it can resolve a legal dispute with the U.S. government.” It did not elaborate.
The company said that trading in its shares will continue to be halted.
Agility, formerly Public Warehousing Co K.S.C., is in talks to resolve an indictment accusing it of overcharging the U.S. Army on supply contracts in Iraq, Kuwait and Jordan.
On Tuesday, the Arabic language daily al-Qabas, citing unnamed sources, said if no settlement is reached by April 11, Agility will announce the results after making “enough provisions.”
Kuwait, which was the launch pad for the U.S.-led invasion of Iraq in 2003. has become a major logistics base for American forces.