- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Jeff Dale2024-06-24T17:01:00
Two subsidiaries of aerospace giant Lockheed Martin agreed to pay $70 million to settle allegations levied by the Department of Justice (DOJ) of overcharging the Navy for aircraft parts.
Sikorsky Support Services and Derco Aerospace, which were acquired by Lockheed Martin from United Technologies Corp. in 2015, will pay nearly $36.5 million in restitution, the DOJ announced in a settlement agreement Friday.
The case resolved claims brought under the qui tam provision of the False Claims Act by Mary Patzer, a former Derco employee. She will receive nearly $14 million of the settlement total.
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2025-02-10T19:41:00Z By Oscar Gonzalez
The Department of Justice announced it reached a settlement with Lockheed Martin stemming from allegations of “defective pricing on contracts for F-35 military aircraft.” The deal comes days after Attorney General Pam Bondi was confirmed by the Senate, which will shift the DOJ’s focus away from white-collar misconduct.
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The U.S. Consumer Financial Protection Bureau continues to unravel amid pressure from Trump administration officials to shutter the agency. Not only has the agency informed its employees that it will no longer be a watchdog for the financial services industry, it has also laid off employees despite court orders blocking ...
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