Editing Lockheed Martin (section)

== Corruption investigations ==
On March 3, 2012, the [[U.S. Department of Justice]] (DOJ) said that Lockheed Martin had agreed to settle allegations that the defense contractor had sold overpriced perishable tools used on many contracts. The DOJ said the allegations were based specifically on the subsidiary Tools & Metals Inc's inflation of costs between 1998 and 2005, which Lockheed Martin then passed on to the U.S. government under its contracts. Further, in March 2006, Todd B. Loftis, a former TMI president, was sentenced to 87 months in prison and ordered to pay a fine of $20 million following his guilty plea.<ref>{{cite news |last=Seper |first=Jerry |title= Lockheed Martin to pay back government for subcontractor scheme |url=http://www.washingtontimes.com/news/2012/mar/23/lockheed-martin-repay-government-15m-pricing-scam/ |date=March 23, 2012 |newspaper=Washington Times |access-date=July 4, 2015}}</ref>

On February 20, 2013, Lockheed Martin Corp complied with the [[United States District Court for the Southern District of New York]], agreeing to pay a $19.5 million lawsuit to conclude a [[securities fraud]] [[class-action]] legal battle that had accused the company of deceiving shareholders in regards to expectations for the company's information technology division.<ref>{{cite news |last=Raymond |first=Nate |title=Lockheed to settle securities fraud suit for $19.5 million |url=https://www.reuters.com/article/us-lockheed-settlement-idUSBRE91J0ZH20130220 |date=February 20, 2013 |newspaper=Reuters |access-date=July 4, 2015 |archive-date=September 24, 2015 |archive-url=https://web.archive.org/web/20150924175605/http://www.reuters.com/article/2013/02/20/us-lockheed-settlement-idUSBRE91J0ZH20130220 |url-status=live}}</ref>

On December 20, 2014, Lockheed Martin Integrated Systems agreed to settle a [[False Claims Act]] lawsuit paying $27.5 million to finalize allegations that it had knowingly overbilled taxpayers for work performed by company staff who did not hold the relevant essential qualifications for the contract.<ref>{{cite web |url=http://www.budget.senate.gov/democratic/public/_cache/files/33ece616-4aaf-4eb5-b99b-44b9f993a096/ash-carter-letter-from-senator-sanders-3.4.2015.pdf |title=US Senate Recent Examples of Contractor Fraud and Misconduct |url-status=dead |archive-url=https://web.archive.org/web/20150521121826/http://www.budget.senate.gov/democratic/public/_cache/files/33ece616-4aaf-4eb5-b99b-44b9f993a096/ash-carter-letter-from-senator-sanders-3.4.2015.pdf |archive-date=May 21, 2015}}</ref>