Bourse halts Agility on US settlement reports

* Newspapers say Agility has settled with U.S. in fraud case
* Agility seeking settlement of up to $600 million - newspapers
(Adds details, background)
KUWAIT, Dec 28 (Reuters) - The Kuwait bourse has halted trading in Agility (AGLT.KW) pending clarification of reports that the logistics firm is near to a settlement in its U.S. fraud case, the bourse said in a statement on Monday.
Several Kuwaiti newspapers carried reports on Monday about Agility seeking a settlement of up to $600 million with the U.S. government.
"Until now the final settlement has not been signed, as some of the points are still pending, however the amount is between $500 million and $600 million," Kuwaiti daily al-Qabas said in an unsourced report.
The firm will seek to schedule the settlement amount over a a five-year period, Qabas said, adding that the settlement will allow Agility to acquire new contracts.
Officials at Agility could not be reached for comment.
In November, a U.S. grand jury indicted Agility on charges of fraud and conspiracy alleging that it overcharged the U.S. Army on $8.5 billion worth of contracts to provide food to soldiers in Iraq, Kuwait and Jordan. [ID:nLH545993]
Agility, which supplies food to U.S. soldiers in Iraq and Kuwait, said it had been temporarily suspended, but not debarred, from new U.S. government contracts pending the outcome of the grand jury indictment. [ID:nLI21800]
If convicted of violations of the False Claims Act, the firm faces probation and a fine of up to twice the gain it realised or twice the loss to the United States.