October 20, 1994  Teledyne Inc.

Teledyne Inc. has agreed to pay over $5.5 Million Dollars to settle claims asserted in a qui tam action filed by Stephen Reddy, a former senior program manager at Teledyne’s Electronic Division at Newberry Park California. The allegations of the case were that Teledyne failed to conduct tests is was required to perform under a contract it had with the government, manipulated testing which it had performed to achieve acceptable results, and permitted employees waiting for work assignments to charge their idle time to the government.

As part of the settlement, Mr. Reddy will receive over $850,000 for having filed the qui tam case.

See U.S. Dept of Justice Press Release 10/20/94

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