Health & Fitness
Health and Fitness
Health and Fitness
Fri, February 6, 2009
Thu, February 5, 2009 Bennett Environmental Inc.: Bennett Environmental Inc. Announces Investigation by U.S. Department of Justice Civil Division
OAKVILLE, ONTARIO--(Marketwire - Feb. 5, 2009) - Bennett Environmental Inc. (TSX:BEV)(the "Company" or "BEI") today announced that the U.S. Department of Justice Civil Division is investigating whether the Company violated the civil False Claims Act in connection with the Federal Creosote project in New Jersey during the 2002-2004 time period. The outcome of this investigation is not determinable and no amount has been recorded in the Company's financial statements in respect of this investigation. BEI continues to bid on work for various U.S. government entities and does not believe that this matter will affect its eligibility for this work. The Company is cooperating fully with the investigation.
As announced on December 18, 2008, a previous investigation by the U.S. Department of Justice Antitrust Division resulted in the Company pleading guilty to a charge of fraud with respect to the same matter. Both these investigations are concerned with a time period when the Company was under different management. As previously announced the Company has filed a claim against the Company's founder and former CEO for $10,000,000. The claim alleges that he was directly or indirectly responsible for the actions that gave rise to these investigations, fraud charges, fines and legal fees. In addition to seeking to recover the fines and illegal payments the claim seeks to recover bonuses that it alleges were inappropriately paid and punitive damages. The claim has not yet been defended.
Forward Looking Statements
Certain statements contained in this press release and in certain documents incorporated by reference into this press release constitute forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and "confident" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. BEI believes that the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in, or incorporated by reference into, this press release should not be unduly relied upon. These statements speak only as of the date of this press release. BEI undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
About Bennett Environmental Inc.
Bennett Environmental Inc. is a North American leader in high temperature treatment services for the treatment of contaminated soil and has provided thermal solutions to contamination problems throughout Canada and the U.S. Bennett Environmental's technology provides for the safe, economical and permanent solution to contaminated soil. Independent testing has consistently proven that the technology operates well within the most stringent criteria in North America. For information, please visit the Bennett Environmental website at: [ www.bennettenv.com ].
