OSLO, Sept 13 (Askume) – Sweden’s Securitas (SECUb.ST) said on Friday it would file a $53 million grant in response to a U.S. government investigation into the company’s subsidiary Paragon Systems.
“The investigation involves alleged misconduct by certain former employees and Paragon’s relationships with various small business entities directly or indirectly involved in contracts with the U.S. government,” Securitas said in a statement.
The company said Paragon is cooperating fully with the investigation and has set aside an amount for its current expected costs related to the matter.
Securitas said the provision would be booked in the third quarter of 2024.
