Booz Allen Shares Drop On Federal Criminal, Civil Probe

Booz Allen Hamilton Holding Corp. shares fell in the extended session Thursday after the accounting firm disclosed in a Securities and Exchange Commission filing that it was the focus of a Department of Justice probe. Booz Allen Hamilton shares dropped 12% to $34.51 after hours. The company said the Justice Department is conducting a criminal and civil investigation into its "cost accounting and indirect cost charging practices with the U.S. government." Booz Allen said that its internal probes had not uncovered any significant deficiencies or weaknesses and that it was cooperating with the investigation.