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Maximus Inc.

Washington, DC: (Jul-23-07) The federal government brought charges against Maximus Inc., following an investigation into the company's Medicaid claims practices. The investigation showed that the claims prepared on behalf of DC lacked sufficient documentation. The investigation dates back to documents filed in 1999.

In a settlement reached, Maximus agreed to pay the federal government $30.5 million. As part of the settlement, Maximus has signed agreements with the Department of Health and Human Services and the US Attorney's Office for DC. Under the agreement, the government won't file criminal charges against the company, but the US attorney reserves the right to file charges if Maximus fails to comply in the next 24 months. The Securities and Exchange Commission claimed that the embattled Reston-based government contractor is reviewing strategic alternatives to enhance shareholder value, including hiring UBS Investment Bank as a financial adviser to explore selling the company. [WASHINGTON BUSINESS JOURNAL: MEDICAID CLAIMS]

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Published on Jul-24-07


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