Titan Said to Agree to Guilty Plea

Shares of Titan Corp. rose after the defense contractor reportedly agreed to plead guilty to criminal bribery charges, paying a fine of less than $30 million to end an investigation.

The stock, which trades on the New York Stock Exchange, closed up $1.31, or 8.6%, at $16.48.

In its Thursday editions, the Wall Street Journal reported that people familiar with the investigation said Titan had reached a tentative agreement with the Securities and Exchange Commission and the Justice Department, both of which declined to comment.

San Diego-based Titan had set aside $28.5 million to cover the cost of fines and penalties related to the alleged bribing of a foreign official, the newspaper reported.

Titan spokesman Wilv Williams wouldn’t confirm or deny that a settlement was in the works.