Northrop Settles Largest-Ever Defense Fraud Suit…But Loses Nothing
Northrop Grumman Corp. has agreed to settle the largest case ever of fraud involving military procurement, valued at $325 million. However, the federal government won’t see any net gain from the settlement, but the defense giant will. That’s because the Pentagon also agreed to pay the defense contractor the exact same amount to settle a different lawsuit Northrop had brought against the government back in the mid-1990s over the cancellation of a cruise missile program, the Tri-Service Standoff Attack Missile.
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