Core Points - The U.S. Treasury Department has canceled all contracts with Booz Allen Hamilton due to failures in protecting sensitive taxpayer data and a past breach that exposed confidential tax information [1][2][3] Group 1: Contract Cancellation - The Treasury Department canceled 31 contracts with Booz Allen, amounting to $4.8 million in annual spending and $21 million in total obligations [2] - This decision is part of a broader initiative by the Trump administration to enhance oversight of government contractors and restore public confidence in federal institutions [2][3] Group 2: Data Breach Incident - The cancellation is linked to a significant IRS data breach involving a former Booz Allen employee, Charles Littlejohn, who leaked confidential tax returns of approximately 406,000 taxpayers [4] - Littlejohn pleaded guilty to felony charges for unauthorized disclosure of confidential tax information and received a five-year prison sentence [4] Group 3: Impact on Booz Allen Hamilton - Booz Allen's Treasury contracts represent a small portion of its projected fiscal year 2025 revenue of $12 billion, with total order backlogs at $38 billion [5] - Following the announcement, Booz Allen's stock dropped by 8.12%, closing at $93.93, despite having a favorable price trend in the short and medium terms [5]

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