Lockheed Execs Duck Claims In Shareholder Action

Law360, Washington (February 15, 2012, 8:19 PM EST) -- A New York federal judge on Wednesday threw out claims holding Lockheed Martin Corp. executives personally responsible in a class action accusing the company of puffing up investor expectations about its information systems business despite the unit's struggle to maintain contracts.

U.S. District Judge Jed S. Rakoff dismissed two of the three charges in the case, both of which were aimed at Lockheed CEO Robert Stevens, Chief Financial Officer Bruce Tanner and Executive Vice President Linda Gooden over company statements in 2009 that praised the company's...
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