Energy equipment supplier Holtec files lawsuit against accounting firm CBIZ

CBIZ

03/10/2024 14:24

Oct 3 (Reuters) - U.S.-based energy equipment supplier
Holtec International has filed a joint lawsuit with two other
firms against accounting firm CBIZ  CBZ.N  and its senior
executive Lonnie Davis, the company said on Thursday.
    The company also alleged business misconduct, including
fraud, breach of contract and accounting malpractice, against
CBIZ and two former Holtec executives, Chief Financial Officer
Robert Galvin and General Counsel Andrew Ryan.
    The privately held nuclear technology solutions company with
operations in the U.S. as well as Brazil, Mexico and Japan,
among others, claimed the executives "secretly co-founded and
owned a rogue, self-dealing company (CBIZ Consulting) using a
deceptively similar name...to Holtec's accounting firm CBIZ, to
siphon funds from Holtec".
    CBIZ Consulting has been accused of embezzling funds of
about $70 million, according to Holtec.
       
    

 (Reporting by Pooja Menon in Bengaluru; Editing by Krishna
Chandra Eluri)
 ((Pooja.Menon@thomsonreuters.com;))