A federal grand jury on Friday indicted former Austal USA executives on felony fraud charges, alleging that they intentionally manipulated costs and earnings reports and mislead company investors ...

The current and former executives, who all live in Mobile, allegedly misled investors about Austal USA's financial condition by manipulating an accounting metric, prosecutors said Friday.

Austal USA’s president, one of the three indicted executives, resigned in 2021 following an investigation into practices dating back more than four years.

Three former Austal executives were indicted last year on accounting fraud charges and are awaiting trial.

Australian shipbuilder Austal Ltd sank as much as 8.4% to its lowest level in more than four years on Monday after the United States Department of Justice indicted three of its former U.S ...

MOBILE, Ala. (WALA) - A federal grand jury has indicted Austal USA’s former president, a current employee and a former executive, accusing them of cooking the books to make company’s signature ...

MOBILE, Ala. (WKRG) — A federal grand jury has indicted the former president of Austal USA, and two other former Austal executives, with “orchestrating an accounting fraud scheme,” at the ...

The company builds ships for the US Navy and is working on parts of the nuclear-powered Virginia class submarines that Australia is to purchase under the AUKUS agreement.

Attorneys for three former Austal USA executives are asking a federal judge to dismiss criminal fraud charges related to allegations that they misled investors.

Austal USA, which builds littoral combat ships for the U.S. Navy, has admitted wrongdoing and agreed to pay a $24 million fine to settle an accounting fraud investigation.

Austal USA will pay out a $24 million fine in a deal with the U.S. Securities and Exchange Commission and Department of Justice to settle an accounting fraud case, Australian parent company Austal ...