Tucson-Based Raytheon Unit Target of Federal Probe into Contract Pricing
“Defense contractor Raytheon Technologies Corp. has set aside $290 million to cover potential expenses of a federal criminal investigation into cost irregularities on past Pentagon contracts. The Department of Justice investigation involves Raytheon’s former Integrated Defense Systems business, which, at the,” reports David Wichner in Tucson.
“That business is now part of the Tucson-based Raytheon Missiles & Defense unit under the 2020 merger with United Technologies. The probe involves multiyear contracts and includes potential civil defective pricing claims for three contracts entered into between 2011 and 2013, according to Raytheon filings with the U.S. Securities.”