Lockheed Martin Settles Navy Contract Suit For $2M

Law360, New York (January 24, 2011, 7:25 PM EST) -- Lockheed Martin Corp. has agreed to pay $2 million to settle a False Claims Act suit that accused the company of conspiring with other contractors to rig a bid for a $3.2 billion U.S. Navy contract.

The U.S. Department of Justice, which announced the settlement Monday, said Lockheed Martin would pay back the $2 million it received for work as a subcontractor providing support services for the National Center for Critical Information Processing and Storage at the Naval Oceanographic Office Major Shared Resource Center at the...
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