Booz Allen Hamilton shares plunge

Stocks are down after the company's employee, Edward Snowden, stepped forward as the NSA whistleblower

Topics: From the Wires, , ,

Booz Allen Hamilton shares plungeA board on the floor of the New York Stock Exchange (Credit: AP/Richard Drew)

NEW YORK (AP) — Shares of Booz Allen Hamilton Holding Corp. are down in morning trading, after the company’s employee, Edward Snowden, stepped forward as the person who leaked information about secret government surveillance programs.

Shares fell 72 cents, or 4 percent, to $17.28. That’s closer to the high end of the stock’s 52-week trading range of $11.85 to $19.23.

In a statement, the company said it has employed Snowden for less than three months and it is working with clients and authorities in investigating the leaks.

McLean, Va.-based Booz Allen Hamilton is a consultant to government and corporate clients. About 23 percent of its revenue, or $1.3 billion, came from U.S. intelligence agencies last year. The company has said in SEC filings that security breaches could materially hurt results.

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