May 11, 2020

Massachusetts defense technology company discloses DOJ investigation

On May 7, 2020, Raytheon Technologies Corporation, a Massachusetts-based company that develops and manufactures aerospace and defense products, disclosed in an 8-K that in early 2020 the US Department of Justice informed the company that it had commenced an investigation into potentially improper payments made in connection with company contracts in certain Middle East countries.  According to Raytheon, the investigation parallels the Securities and Exchange Commission investigation begun in 2019, which focuses on whether improper payments were made by Raytheon, Thales-Raytheon Systems (a joint venture), or by anyone acting on behalf of either entity in connection with the Middle East contracts.  The company said that it is “cooperating fully with the SEC’s inquiry.”

Form 8-K