Sprint May Not Get New Federal Work
From Bloomberg News
Sprint Corp., the third-largest U.S. long-distance telephone company, may be suspended from winning federal contracts after overbilling the government for services.
The inspector general of the U.S. General Services Administration recommended that the agency consider barring Sprint from new federal work.
Sprint, which gets more than $600 million annually from the U.S., in June agreed to pay $5.2 million to settle Justice Department charges that it defrauded federal clients. Sprint did not admit wrongdoing.
On Tuesday, shares that track the performance of Sprint’s long-distance unit fell 49 cents to $14.04 on the NYSE.
