CityTime SAIC Scandal is Not Over!!!

As cover-ups continue here breaking news....According the WashingPost

http://www.washingtonpost.com/business/capitalbusiness/citytime-fallout-continues-for-saic/2012/04/13/gIQA71QtJT_story.html 

"SAIC has filed a motion with a panel focused on multi-district litigation to transfer the cases to a single court for “consolidated or coordinated pretrial proceedings,” according to the filing. "

According to SAIC business colleague and published by the Washington Post

“I would characterize [CityTime] as a fairly isolated event,” said William Loomis, managing director at Stifel Nicolaus, which has a business relationship with SAIC. “We’re cautious on the company’s outlook overall just because of what’s happening in the federal market, but not specific to CityTime.” 

In a recent SEC filing SAIC said, they are still working on it!

“While we do not expect to be terminated on existing U.S. Government contracts or precluded from bidding on new U.S. Government contracts, we are working to resolve these matters with these government customers as quickly as possible, but no assurances can be given as to the timing or outcome of these discussions,” the company said in the filing. 

http://www.washingtonpost.com/business/capitalbusiness/citytime-fallout-continues-for-saic/2012/04/13/gIQA71QtJT_story.html 


The Street thinks the Washington Post has picked off a lot of our blog data and built a article that at least sides with us. SAIC and CityTIME ain't over. Lawsuits abound and that get out of Jail Free card, just may not work this time. 

Washington Post made a graphic of the CEO Shuffle 2003 on....When CEO Beyster/Founder was succeeded. They are all smiling. 

http://www.washingtonpost.com/2012/04/13/gIQAKrPzFT_graphic.html