Lockheed Martin Settles Air Force Case
From Bloomberg News
Lockheed Martin Corp. agreed to pay $37.9 million to settle government allegations that it inflated costs on four Air Force contracts, the Department of Justice said.
Lockheed allegedly overcharged the Air Force for infrared equipment used in nighttime navigation and targeting on military jets so the company could generate revenue to offset cost overruns on another Air Force contract.
Lockheed denied any wrongdoing in this case.
A former employee originally filed the complaint before the case was taken over by the federal government. Under the whistle-blower provisions of the False Claims Act, the former employee will receive $8.75 million from the settlement.
