Friday, June 1, 2012
SAIC Quarterly Report CityTime Fall-out SAIC Could Lose Gov Contracts
A LOSS is POSSIBLE!!!!!
Hot off the presses -- CityTime fall-out not over.....SAIC could lose gov. contracts...stay tuned....
" The Company currently intends to file a motion to dismiss each of these complaints because the respective plaintiffs did not serve a pre-suit demand before filing the derivative complaints. The Company has also received a stockholder demand letter related to CityTime and TRICARE, which an independent committee of the Company’s board of directors is currently reviewing. " "The Company intends to vigorously defend against these claims. " HOWEVER "The Company currently believes that a loss relating to the above-described stockholder matters is possible, but the Company cannot reasonably estimate the range of potential loss in light of the fact that these matters are in their early stages. " Sounds fimiliar, that's exactly what SAIC financial reports said on CityTime.
one more thing on this more extensive filing...does not sound like SAIC is in the clear on getting fired by other government agencies due to citytime.
"With a substantial portion of the Company’s business derived from U.S. Government contracts, the Company has been in discussions with its U.S. Government customers regarding the CityTime matter, including the DPA and resolution of the matter with the U.S. Attorney’s Office and the City. While the Company does not expect to be terminated on existing U.S. Government contracts or precluded from bidding on new U.S. Government contracts, it is working to resolve these matters with these government customers as quickly as possible, but no assurances can be given as to the timing or outcome of these discussions. “
Does this mean SAIC could lose their 2 billion dollar bail-out tax payer money by Pentagon --oops meant to say 2 billion dollar contract?
Reminder before Gerald Denault was hired my opinion Richard Valcich letter proved SAIC robbing us just like they did the FBI on the Triology program.