Northrop To Pay Feds $11M In Stock Options Billing Fight

Law360, New York (December 10, 2013, 1:56 PM ET) -- Northrop Grumman Corp. will pay $11.4 million to the federal government over allegations it violated a 2002 settlement that prohibited it from charging stock options awards for its employees to government contracts, the U.S. Department of Justice said Monday.

Northrop Grumman had promised in the 2002 settlement with the Defense Contract Management Agency to limit how much in deferred compensation for its employees it would charge to its federal contracts, according to the DOJ. But federal prosecutors said it violated that settlement by including such stock...
To view the full article, register now.