Booz Allen Hamilton to pay $377.4 million to settle U.S. government overbilling allegations

Defense contractor Booz Allen Hamilton has agreed to pay $377.4 million to settle a long-standing Justice Department lawsuit alleging overcharging of the U.S. government.
The company was accused of improperly allocating indirect costs to government contracts and subcontracts from 2011 to 2021.
The settlement represents one of the largest financial settlements for a defense company under the federal False Claims Act.
Booz Allen entered into the agreement to avoid prolonged litigation and did not admit liability.
A related federal criminal probe was closed without charges, but an SEC investigation remains open.