Shares in G4S and Serco fall after overcharging claims

Shares in the two companies accused of overcharging the Ministry of Justice for its electronic tagging contracts had fallen at the end of trading today.

Shares in Serco fell about 8% while those in G4S were almost 6% lower.

Read: Government demands probe into G4S tagging contract

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G4S tagging fraud inquiry

The Justice Secretary has asked the Serious Fraud Office to investigate G4S over its electronic tagging contract after auditors found the security firm and another company had overcharged the Ministry of Justice by "tens of millions of pounds".