Matrix Service Co., Tulsa, Okla., said on Sept. 10 it would delay release of its fourth-quarter earnings statement and annual report to the U.S. Securities and Exchange Commission at least until Sept. 28, pending an internal investigation of fraud allegations against current and former employees in one of its offices. The publicly held industrial engineer-constructor declines to identify the nature of the claims or the names of the employees allegedly involved. However, it did say the employees identified in the allegations have been suspended without pay until the internal probe is completed. Matrix says it believes the financial impact of
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.