August 27, 2003 Lockheed Martin
Lockheed Martin Corporation has agreed to pay nearly $38 Million Dollars to settle a qui tam action filed by one of its former employees, Albert Campbell. The qui tam suit accused Lockheed Martin of deliberately inflating the cost of four contracts for the purchase of navigation and targeting pods for military jets. Campbell’s complaints alleged that Lockheed Martin violated the False Claims Acts by, among other things, knowingly failing to provide current, accurate and complete cost and pricing data to the Air Force price negotiators. Government contractors are required by The Truth in Negotiations Act to provide accurate and complete cost data to government contract negotiators.
Mr. Campbell will receive over $8.7 Million as his share of the settlement for having filed the qui tam case.
See U.S. Dept of Justice Press Release 8/27/03