United Technologies Told to Pay $473 Million to U.S. in Lawsuit

June 18, 2013

A federal judge has ordered United Technologies Corp (UTX.N) to pay $473 million plus interest for manipulating costs to win U.S. Air Force jet engine contracts in the 1980s.

The ruling by U.S. District Judge Thomas Rose in Dayton, Ohio, was issued Monday for a 1999 lawsuit in which the Department of Justice sought reimbursement for overcharges by United Technologies subsidiary Pratt & Whitney.

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