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AAR Corp. discloses DoJ probe of several military contracts

Jul. 12, 2018 9:00 AM ETAAR Corp. (AIR) StockAIRBy: Carl Surran, SA News Editor
  • AAR Corp. (NYSE:AIR) discloses the U.S. Department of Justice is conducting an investigation of the company's Airlift unit under the federal civil False Claims Act.
  • AAR says the probe involves Airlift's performance of contracts awarded by the U.S. Transportation Command regarding operation and maintenance of rotary-wing and fixed-wing aircraft in Afghanistan and Africa, as well as several U.S. Navy contracts.
  • The DoJ has told AAR that part of the investigation was prompted by a lawsuit filed by a former Airlift employee.
  • Earlier: AAR Corp. -9% after earnings, but Canaccord sees buying opportunity (July 11)

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