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.
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.
2025-07-14T20:27:00Z By Oscar Gonzalez
The U.S. Federal Trade Commission said it has settled with telemedicine service Southern Health Solutions, Inc. over allegations the company used deceptive pricing and weight-loss claims, along with fake reviews and testimonials, to sell its weight-loss programs.
2025-07-14T15:36:00Z By Ruth Prickett
Serious bullying and harassment count as misconduct in regulated financial services firms, per a July 1 clarification by the U.K. Financial Conduct Authority, which said non-financial misconduct rules now applied only to banks will extend to 37,000 more firms starting September 1, 2026.
2025-07-11T21:14:00Z By Oscar Gonzalez
The U.S. Department of Justice arppoved T-Mobile’s acquisition of competitor UScellular. The move came a day after T-Mobile announced it had dropped its diversity, equity, and inclusion programs, a frequent target for Trump’s administration.
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