Lockheed Martin Units Settle $70 Million Allegations

Sikorsky Support Services and Derco Aerospace, both part of Lockheed Martin Corp, have reached a $70 million settlement with the Justice Department. The companies were accused of overcharging the U.S. Navy for aircraft spare parts and repair materials.

Sikorksy Support Services and Derco Aerospace, both units of Lockheed Martin Corp, have agreed to pay $70 million to resolve allegations they overcharged the U.S. Navy for aircraft spare parts and repair materials, the Justice Department said on Friday.