US Loses Spat With Lockheed Over $9.5B F-22 Deal

Law360, New York (June 11, 2010, 1:27 PM EDT) -- An appeals court has rejected the federal government's allegations that Lockheed Martin Corp. owes it $14.7 million because the aviation giant increased the price of a $9.5 billion contract for the next-generation F-22 jet fighter when the company changed its accounting practices.

The U.S. Court of Appeals for the Federal Circuit issued the ruling Thursday, affirming the ruling of the Armed Services Board of Contract Appeals and rejecting the government's arguments that Lockheed did not notify it of the accounting change when the contract was renegotiated....
To view the full article, register now.