Tag: AUSTAL

Austal USA fined $24 million, placed on probation after plea deal related to fraudulent valuations designed to 'mislead' investors

A federal judge approved on Monday a plea agreement between federal prosecutors and the Alabama-based U.S. Navy shipbuilder Austal USA LLC, levying a $24 million fine for fraudulently valuing its ships to "mislead" its investors and shareholders.

House Armed Services Committee passes National Defense Authorization Act

"This is the first step in the process – the House and Congress have a number of issues to address as we move forward. The Committee was able to blunt the impacts of inflation on the military, accelerated the recapitalization of our nuclear triad, and invest in capabilities and platforms to deter and, if necessary, defeat China and other enemies," said Congressman Mike Rogers