January 23, 2003 Lockheed Martin
Lockheed Martin Corporation has agreed to pay over $1.4 Million Dollars to settle claims that asserted in a qui tam lawsuit filed by Glen Heiser, a former employee of Loral Corporation (a predecessor of Lockheed Martin). The allegations asserted in the action, were that Loral wrongfully inflated estimate costs it was required to disclose during contract negotiations with the Department of the Air Force, which resulted in an inflated contract price and false claims for payment under a contract entered with the Air Force.
As part of the settlement, Mr. Heiser will receive over $270,000 for having filed the qui tam case.
See U.S. Dept of Justice Press Release 1/23/03