Takeaways From United Technologies' $75M Settlement
Law360, New York (July 10, 2012, 1:39 PM ET) -- United Technologies Corporation (UTC), its U.S. subsidiary Hamilton Sundstrand Corporation (HSC) and its Canadian subsidiary Pratt & Whitney Canada Corp. (PWC) have agreed to pay more than $75 million as part of a “global settlement” with the U.S. Departments of State and Justice to address illegal arms exports to China (in particular, illegal exports of U.S.-origin software used in the development of China’s military attack helicopter, Z-10), false and belated disclosures to the U.S. government about these illegal exports, and other outstanding export violations. Roughly $20.7...
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