Arena’s share price fell 22% on Thursday following its announcement that its US subsidiary, Arena Americas, is being investigated by the US Attorney’s Office (USAO) regarding its relationship with a previous customer who has been formally charged for a violation related to the Small Business set-aside programme. This could potentially lead to a fine of up to $8m (c£5.7m, or c5% of the group’s prior mkt cap), although we anticipate the fine to be low single digit $m. The group has no similar cont ....
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A fine opportunity
- Published:
03 Apr 2018 -
Author:
Cavendish Research -
Pages:
4
Arena’s share price fell 22% on Thursday following its announcement that its US subsidiary, Arena Americas, is being investigated by the US Attorney’s Office (USAO) regarding its relationship with a previous customer who has been formally charged for a violation related to the Small Business set-aside programme. This could potentially lead to a fine of up to $8m (c£5.7m, or c5% of the group’s prior mkt cap), although we anticipate the fine to be low single digit $m. The group has no similar cont ....