- 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.
2024-11-13T18:21:00Z By Aaron Nicodemus
Paragon Systems, a Virginia-based security contractor, and a subsidiary will pay nearly $54 million to resolve allegations that its corporate executives–including its compliance manager–conspired to win Department of Homeland Security contracts by creating fraudulent small business front companies.
2024-08-27T21:40:00Z By Aaron Nicodemus
The U.S.-based subsidiary of Australian defense contractor Austal will pay $48.8 million in fines and restitution to settle allegations that it committed accounting and securities fraud, misled federal auditors, and violated the False Claims Act.
2025-03-27T13:11:00Z By Jeff Dale
The U.K. Financial Reporting Council issued penalties against PwC and a former auditor over deficiencies on work related to the 2019 financial statements of now shuttered Wyelands Bank.
2025-03-27T12:49:00Z By Aaron Nicodemus
Yet another government contractor has been slapped with a fine by the Department of Justice for applying lax cybersecurity defenses on sensitive government data.
2025-03-26T18:48:00Z By Oscar Gonzalez
The European Commission released its preliminary findings last week regarding Apple and Google not complying with the Digital Markets Act. It issued orders to both companies regarding their business practice and plans to release all of its findings next week.
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