On October 16, 2024, the U.S. Department of Justice announced that Raytheon Company, a subsidiary of Virginia-based aerospace and defense contractor RTX Corporation, agreed to pay more than $950 million to resolve parallel DOJ and SEC investigations into allegations that the company violated the Foreign Corrupt Practices Act (“FCPA”) in connection with improper payments made to a Qatari government official in order to secure contracts. The deferred prosecution agreement (“DPA”) with the DOJ also resolves related allegations that Raytheon failed to disclose the payments made to the Qatari government official to the U.S. Department of State in violation of the International Traffic in Arms Regulations (“ITAR”). Raytheon separately entered a second DPA to resolve alleged violations of the Truthful Cost or Pricing Data Act, formerly known as the Truth in Negotiations Act (“TINA”), stemming from inflated pricing for two contracts with the U.S. government. Raytheon also entered into a civil False Claims Act settlement with the DOJ, resolving allegations that Raytheon “provided untruthful certified cost or pricing data when negotiating prices with the [Department of Defense] for numerous government contracts and double billed on a weapons maintenance contract.”
Raytheon DPA – Defective Pricing | Raytheon DPA – FCPA | False Claims Act Settlement | SEC Order