Halifax Reports Embezzlement.

PR Newswire | March 18, 1999 | Copyright

ALEXANDRIA, Va., March 18 /PRNewswire/ -- Halifax Corporation (Amex: HX) today announced that an internal investigation has revealed an apparent material embezzlement by a former employee in one of the Company's subsidiaries. The Company has reported the matter to the appropriate law enforcement authorities, and the Company has engaged an outside team of auditors to investigate the nature and amount of the embezzlement.

The Company has entered into an agreement with the former employee responsible for the embezzlement under the terms of which she has agreed to ...

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