2 Apr 2014 07:00
2 April 2014
Sweett Group plc
"Sweett Group" or "the Group"
Wall Street Journal Allegation - Update
On 8 January 2014 Sweett Group (AIM CSG.L) issued an announcement regarding allegations made in the Wall Street Journal in June 2013. Since that announcement there have been further discussions with the Serious Fraud Office (SFO) in the UK and initial discussions with the Department of Justice (DOJ) in the USA. The Group is cooperating with both bodies and no proceedings have so far been issued by either of them. The Group has commissioned a further independent investigation which is being undertaken on its behalf by Mayer Brown LLP.
Whilst this investigation is at an early stage and is ongoing, to date still no conclusive evidence to support the original allegation has been found. However, evidence has come to light that suggests that material instances of deception may have been perpetrated by a former employee or employees of the Group during the period 2009 - 2011. These findings are being investigated further.
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For further information:
Sweett Group plc | +44 20 7061 9000 |
Dean Webster, Chief Executive Officer Patrick Sinclair, Chief Financial Officer Sophie Hull, Head, Corporate Communications |
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Westhouse Securities Limited | +44 20 7601 6100 |
Tom Griffiths Paul Gillam |
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FTI Consulting | +44 20 3727 1000 |
Jonathon Brill Katherine Goligher |
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About Sweett Group
Sweett Group plc is a global business with expertise in property and infrastructure professional services. Our services include programme and project management, cost management, advisory and PPP/PFI investment.
We aim to forge long term, successful relationships with all stakeholders in the property and infrastructure industry. "Global knowhow, local delivery" is the essence of our business and our reach enables us to put global best practice to use in the local markets we serve.
www.sweettgroup.com |