Austal Settles DOJ Investigation into Former Employees, Will Pay $24M Fine

Breaking Defense – Austal, the Australian parent company of US Navy shipbuilder Austal USA, will pay a $24 million fine as part of a settlement with the US Department of Justice and US Securities Exchange Commission following an investigation into allegations that former employees misstated the company’s performance in financial reports, according to a statement circulated Monday on the Australian Securities Exchange.