Kforce (KFRC) Enters Agreement to Terminate Suspension from Participating in Federal Business
Kforce Government Solutions, Inc. (KGS), a wholly-owned subsidiary of Kforce Inc. (NASDAQ: KFRC), announced today that it has entered into an Administrative Agreement ("Agreement") with the Department of Interior (DOI) that terminates the December 15, 2009 suspension of KGS from participating in new and renewed Federal government business. As a result of the Agreement, KGS is no longer proposed for debarment, and is now authorized to enter into new and renewed Federal business, effective immediately.
The Agreement requires, among other things, that KGS return to the DOI the profit on a $78,892.32 Task Order issued in 2008, and requires KGS to enhance its existing compliance program, training and controls.
"KGS looks forward to continuing its high-level of service and support to the Federal Government. KGS has a proud 38 year history of providing the highest level of service to our valued clients, partners and consultants with a reputation for integrity and professionalism," said David L. Dunkel, Chairman and Chief Executive Officer of Kforce Inc. "We are grateful to the Department of Interior and its Office of Inspector General for working with KGS to obtain a prompt resolution of this matter."
Larry Grant, President of KGS, added: "KGS is a valued supplier of services and solutions to our many Federal clients, and we intend to move forward from this incident with a renewed commitment to service and the highest ethical standards. I'm very proud of the professionalism of the KGS Associates and for the great job they do daily to support our country's decision makers, agencies and particularly our Armed Forces."
Create E-mail AlertRelated Categories
Corporate NewsStocks Mentioned
+1.26Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
