KBR Investor Sues Over Alleged Misleading Contract Finances (1)

A KBR Inc. investor filed a proposed class action lawsuit against the company, its CEO, and CFO, alleging violations of federal securities laws for making false and misleading statements about KBR’s HomeSafe Alliance joint venture and its contract with the US Department of Defense’s Transportation Command.

Johan Norrman claims that despite TRANSCOM’s concerns about HomeSafe’s ability to fulfill the contract, the defendants—including KBR, its CEO Stuart J.B. Bradie, and CFO Mark W. Sopp—claimed the partnership was without issue and would ramp up in future quarters.

The day after Homesafe Alliance announced TRANSCOM’s termination of its role in the contract in ...