Lockheed Martin to pay $15.85 million for overcharging U.S. government

Lockheed Martin will pay the U.S. government $15,850,000 to settle a lawsuit on its failure to prevent a supplier from overcharging the aeronautical company and the government.

Tools and Metals Inc. was found to be guilty of overcharging Lockheed in 2005. The Justice Department then decided to file a civil False Claims lawsuit against Lockheed for not detecting the overcharges and ultimately passing them on to taxpayers.

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