RTX Enters Deferred Prosecution Agreement With DoJ And Also Enters False Claims Act Settlement Agreement To Resolve Government Investigations Into Defective Pricing Claims - Filing
Portfolio Pulse from Benzinga Newsdesk
RTX has entered into a Deferred Prosecution Agreement with the Department of Justice and a False Claims Act Settlement Agreement to resolve government investigations into defective pricing claims. The agreements involve significant financial penalties, including a $282 million payment to the DOJ and a $102 million payment to the SEC.
October 16, 2024 | 9:29 pm
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NEGATIVE IMPACT
RTX has agreed to pay over $959 million in penalties to resolve government investigations into defective pricing claims. This includes payments to the DOJ and SEC for violations of the FCPA.
The significant financial penalties and legal agreements indicate a negative short-term impact on RTX's stock price. The large sums involved and the nature of the violations (FCPA and defective pricing) suggest potential reputational damage and financial strain.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100