Lockheed Execs Dodge Derivative Suit Over Info Systems Biz

Law360, New York (October 15, 2012, 2:28 PM EDT) -- A New York federal judge on Friday threw out a shareholder derivative suit brought against Lockheed Martin Corp.'s top brass over allegations that the defense contractor unlawfully inflated expectations for its information systems business and sparked a securities class action against the company.

U.S. District Judge Jed S. Rakoff granted the executives’ and board members’ motion to dismiss the case with prejudice without commenting on the matter, but said his full reasoning for tossing the case would be explained in a forthcoming written opinion.

Lockheed is...
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