MONTREAL - The giant engineering firm SNC-Lavalin saw its shares slip seven percent Friday upon news that the RCMP had conducted a raid at its head office in Montreal.
In the early afternoon the value of the shares was only down 5.7 percent, at $37.80 on the Toronto Stock Exchange.
The company said in a press release that the RCMP search warrant concerned "an investigation into certain individuals who are not, or are no longer, employed by us."
The company said it was fully cooperating with the investigation and would comply with all other demands made by the authorities.
The company's CEO Pierre Duhaime quit in March following an internal investigation allegedly showing that he authorized irregular commission payments of $56 million.
SNC-Lavalin Vice-Presidents Riadh Ben Aissa and Stephane Roy left the company in February.
