Navigant Consulting, Inc. (“Navigant”) announced today that the United States Attorney’s Office for the Eastern District of New York (“USAO”) has informed Navigant it has closed its investigation into the matters outlined in a report by the Moreland Commission on Utility Storm Preparation and Response (the “Commission”). The USAO investigation did not indicate any findings of wrongdoing on the part of Navigant or any of its individual employees referenced in the Commission’s report. The report related, in part, to Navigant’s work for its long-standing client, the Long Island Power Authority (“LIPA”).
Julie Howard, Chief Executive Officer of Navigant, said, “The USAO’s investigation yielded the outcome we were expecting: that Navigant and its professionals operated with complete integrity and in accordance with our contracts and client expectations. Throughout this difficult time, we have remained steadfast in our conviction that there was no merit to the concerns raised by the Commission and expected the USAO would reach the same conclusion. The USAO’s decision fully validates our position.
“As I have previously stated, everyone at Navigant is deeply committed to acting with integrity, doing the right thing on behalf of our clients and the firm, and maintaining the high standards for ethics and quality on which Navigant’s reputation is based.
“We are pleased that the USAO investigation has been favorably resolved. We are excited to put this matter behind us as we continue to help our clients address their most challenging business issues.”Statements included in this press release which are not historical in nature are forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words including “outlook,” “plans,” “goals,” “anticipates,” “believes,” “intends,” “estimates,” “expects” and similar expressions. These statements are based upon management’s current expectations and speak only as of the date of this press release. The Company cautions readers that there may be events in the future that the Company is not able to accurately predict or control and the information contained in the forward-looking statements is inherently uncertain and subject to a number of risks that could cause actual results to differ materially from those contained in or implied by the forward-looking statements including, without limitation: the success of the Company’s organizational changes and margin improvement initiatives; risks inherent in international operations, including foreign currency fluctuations; ability to make acquisitions and divestitures; pace, timing and integration of acquisitions and separation of divestitures; impairment charges; management of professional staff, including dependence on key personnel, recruiting, attrition and the ability to successfully integrate new consultants into the Company’s practices; utilization rates; conflicts of interest; potential loss of clients; clients’ financial condition and their ability to make payments to the Company; risks inherent with litigation; higher risk client assignments; professional liability; potential legislative and regulatory changes; continued access to capital; and market and general economic conditions. Further information on these and other potential factors that could affect the Company’s financial results are included under the “Risk Factors” section and elsewhere in the Company’s filings with the Securities and Exchange Commission (SEC), which are available on the SEC’s website or at www.navigant.com/investor_relations . The Company cannot guarantee any future results, levels of activity, performance or achievement and undertakes no obligation to update any of its forward-looking statements.
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