Published: Monday, 10 February 2025 06:09

February 10, 2025 – Lockheed Martin Corporation (LMC) has agreed to pay $29.74 million to resolve False Claims Act

allegations of defective pricing on contracts for F-35 military aircraft. This payment is in addition to $11.3 million that LMC previously paid to the Department of Defense (DOD) for the same undisclosed cost and pricing data on some of the same contracts. LMC, headquartered in Bethesda, Maryland, is one of the world’s largest defense contractors.

According to court documents, between 2013 and 2015, LMC inflated pricing proposals it submitted to obtain contracts for the F-35 by failing to provide to DOD’s F-35 Joint Program Office (JPO) accurate, complete, and current cost and pricing data during the negotiations leading to the award of five contracts for the production or sustainment of the F-35. The United States alleged that LMC had knowledge of suppliers’ cost or pricing data that it did not disclose to the JPO in violation of the Truth in Negotiations Act (TINA). Congress enacted TINA in 1962 to help level the playing field in sole source contracts — where there is no price competition — by making sure that government negotiators have access to the cost or pricing data that the offeror used when developing its proposal. The United States alleged that had LMC provided accurate, complete, and current cost and pricing data, JPO would have awarded the contracts in lower amounts.

“Those who do business with the...

Read Full Story: https://news.google.com/rss/articles/CBMilAJBVV95cUxOTG1xX0kwb3hjOVZyTl9CRS05...