KUWAIT: Trading in Kuwait’s logistics firm Agility was halted on Thursday on a media report that U.S. prosecutors were going to drop fraud charges against it.
The bourse did not mention the report in its brief statement, but Al-Watan daily quoted the Middle East Economic Digest (MEED) magazine as saying the company said U.S. prosecutors were dismissing the charges.
Company officials could not be immediately reached for comment.
On July 28, Agility said the U.S. government wants to dismiss an indictment against one of its units.
Agility, formerly Public Warehousing Co. K.S.C. (PWC), was dropped from supplying food to the U.S. Army in Iraq, Kuwait and Jordan after the charges surfaced last year.
