Lockheed Pays $19M To End Investors' Info Systems Biz Suit

Law360, New York (February 20, 2013, 6:03 PM EST) -- A class of Lockheed Martin Corp. investors asked a New York federal court Tuesday to approve a $19.5 million settlement to end its securities suit alleging the defense giant misled investors about the strength its information systems business.

Lead plaintiff City of Pontiac General Employees' Retirement System asked U.S. District Court Judge Jed S. Rakoff to approve the settlement about two months after Judge Rakoff agreed to certify the investor class. The shareholders had accused the company of puffing up investor expectations about the information systems...
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