Kuwait's logistics giant Agility shared on Tuesday that U. S. auditor PWC has indicted DGS Holdings and DGS KSCc, the company's subsidiaries.

"The case…is now before a federal court and PWC has asked the court to determine if the company was properly served with summons on the indictment", quoted Agility.

Agility had been indicted under charges of conspiracy and fraud for allegedly overcharging the U. S. Department of security over food-supply contracts on November 16, 2009.

The company had denied the allegations which were primarily related to three major contracts which undertook the food supplying guarantee to U. S. troops in Iraq, Kuwait and Jordan.

The company said that is pursuing talks with the U. S. for resolving the legal issues. However, analysts have opined that there is very less scope of an agreement between the two.

Agility posted a 22% surge it's in fourth-quarter profit on Tuesday, with an 11% rise in profit in this year's first quarter.

Following the indictment, Agility's shares tumbled down by 7.8%, reducing the profit 53% in the last 6 months. The company said that the indictment has brought huge embarrassment to it.