PBSJ Discloses Internal Probe Of Overseas Work in SEC Filing
The PBSJ Corp., the Tampa architect-engineer, confirms an internal probe into whether its subsidiary PBS&J International Inc. violated U.S. law in pursuing projects overseas. The parent firm, which ranks No. 30 on ENR’s list of the Top 500 Design Firms with $594.3 million in 2008 revenue, disclosed the investigation in a Dec. 30, 2009, filing to the federal Securities and Exchange Commission. It said it could not file on time its required year-end annual report for 2009 because its board was seeking “to determine whether any laws have been violated, including the Foreign Corrupt Practices Act, in connection with certain projects undertaken by PBS&J International.” PBSJ Corp. stated it had “self-reported” to SEC and the U.S. Justice Dept. circumstances surrounding the probe and “will cooperate fully” if either decides to conduct its own inquiries. The corporation also is the parent of engineering firm PBS&J, which in 2007 settled federal charges related to a $36-million embezzlement scheme. That scheme, which PBS&J uncovered, caused it to erroneously overcharge government clients.
This article originally appeared on ENR.com.