ITT Freed From Wyle's Suit Over $235M CAS Sale

Law360, New York (May 10, 2012, 5:51 PM EDT) -- A New York state judge said Thursday that he will dismiss Wyle Inc.'s lawsuit alleging that ITT Corp. did not disclose a government audit on a lucrative contract when it sold defense and aerospace contractor CAS Inc. to Wyle for $235 million.

Wyle, which supplies the government with specialized engineering and other technical services, said that ITT didn't tell Wyle about an audit by the U.S. General Services Administration's Office of Inspector General on a lucrative CAS contract when it sold the subsidiary to Wyle in...
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