Fed. Circ. Frees DirectTV From $80M Pension Transfer Claim

Law360, New York (January 26, 2012, 9:41 PM EST) -- The Federal Circuit affirmed a ruling Thursday that freed DirectTV from a U.S. claim that it owed $80 million from pension surpluses it kept when it sold off its government contract units and associated employee pensions to The Boeing Co. and defense contractor Raytheon Co.

Because the pensions arose from government contracts, their liabilities were split between the U.S. and DirecTV, and the government argued that DirecTV hadn't complied with cost accounting standards that required it to turn over any refund or reduction in its costs...
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