Feb 20 Lockheed Martin Corp has agreed
to pay $19.5 million to settle a securities fraud class-action
lawsuit accusing it of misleading investors about the expected
performance of its information technology division, according to
The settlement, which requires a judge's approval, was
detailed by the plaintiffs in papers filed in U.S. District
Court in New York late Tuesday.
The accord would resolve more than two years of litigation
by shareholders who blamed the company's alleged misstatements
for a decline in Lockheed's stock price.
Kelli Raulerson, a spokeswoman for Lockheed, and Samuel
Rudman, a lawyer for the plaintiffs at Robbins Geller Rudman &
Dowd, both declined comment on Wednesday.