March 21 U.S. Congressman Ro Khanna asked the
Department of Defense for an investigation into the business
practices of aircraft components supplier TransDigm Group Inc
, sending the company's shares down as much as 9.7
percent on Tuesday.
In a letter dated March 20 to Glenn Fine, the acting
inspector general of the U.S. DoD, Khanna requested for a probe
into the company "for potential waste, fraud and abuse in the
defense industrial base".
Khanna, who is a member of the House Armed Services
Committee, wrote that recent reports indicate TransDigm may be
operating as a "hidden monopolist" and more information must be
made available to the public on the company's business
Short-seller Citron Research had issued a critical report on
TransDigm in January.
Shares of the company which has fallen nearly 4.4 percent
since the beginning of the year, touched a one-month low of
$214.99 on Tuesday.
TransDigm did not immediately respond to a request for
(Reporting by Aishwarya Venugopal in Bengaluru; Editing by