Raytheon Agrees to $410 Million Settlement in Class-Action Suit.
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Raytheon Co. said yesterday that it had reached a preliminary agreement to pay $410 million in cash and securities to settle a class-action lawsuit alleging it misled investors by not disclosing difficulties on various Pentagon and construction projects five years ago. If completed, the settlement would be among the 10 largest in the history of class-action litigation against major corporations. It will lead the Waltham defense contractor to take a pre-tax charge of about $335 million in the second quarter, the company said. The company said the lower figure is meant to account for $75 million in insurance payments it expects to… Source : accessmylibrary.com |