Raytheon Pays $12M To Settle With SEC

Law360, New York (June 28, 2006, 12:00 AM EDT) -- Defense and aerospace outfit Raytheon Company will pay a penalty of $12 million and return $1 million of allegedly ill-gotten gains to settle a U.S. Securities and Exchange Commission inquiry into its accounting practices.

The SEC was primarily interested in how Raytheon recorded revenue between 1997 and 2001, specifically from the sale of business jets built by its subsidiary, Raytheon Aircraft Co.

As is customary, Raytheon has neither admitted nor denied wrongdoing. It has accepted a cease- and-desist order based on federal securities law violations regarding...
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