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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.