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SNC-Lavalin Plunges Most in 20 Years on Payments Probe

SNC-Lavalin Group Inc., Canada’s largest engineering company, fell the most in at least 20 years after saying 2011 profit would be less than forecast and opening a probe into inaccurate documentation of payments by its construction unit.

An outside law firm is assisting in the inquiry after C$35 million ($35 million) of fourth-quarter outlays were found to have been tied to “projects to which they did not relate” and had to be logged as expenses, SNC-Lavalin said today.