Lockheed To Pay $10M In Aircraft Development Probe

Law360, New York (December 20, 2010, 12:39 PM EST) -- Lockheed Martin Corp. has agreed to pay $10.28 million to resolve claims that its aircraft division mischarged the federal government for costs associated with a commercial development contract in the late 1990s.

The company's Marietta, Ga., aircraft manufacturing division used inflated overhead rates to price contracts for aircraft sales to the U.S. Air Force and U.S. Navy in violation of the False Claims Act, the U.S. Attorney's Office for the Northern District of Georgia said Friday.

The government accused Lockheed, the world's largest defense contractor, of...
To view the full article, register now.