BAE Systems' Shares Drop On Justice Department Probe

Shares of Britain's top arms dealer, BAE Systems, dropped sharply on Tuesday after the company said it was the target of a U.S. Justice Department probe into alleged corruption, notably in its dealings with Saudi Arabia.

BAE Systems, which has extensive interests in the U.S., said in a brief statement that the Justice Department has started a formal investigation into its compliance with anti-corruption laws, including its business in the Kingdom of Saudi Arabia.

Shares of BAE Systems dropped nearly 9% in London morning trading.

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- Posted: 2007-06-26 11:03:52

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