Kuwaiti firm unsure of settlement in US fraud case

* username: rupertbu

A Kuwaiti logistics firm that is a major supplier of the U.S. military cast doubt Sunday on whether talks to reach a settlement with American prosecutors over fraud allegations will bear fruit.

Public Warehousing Co. said it is continuing negotiations with the U.S. government in an effort to resolve a dispute over multibillion-dollar contracts to feed American troops.

"However, there is no guarantee that the parties can reach a mutually agreeable settlement," it added in an update on the talks included in its annual financial report.