Lockheed Martin settles US allegations of defective pricing on F-35 contracts

PHOTO CAPTION: A Lockheed Martin F-35 fighter jet performs a flying display at the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 20, 2023. REUTERS/Benoit Tessier

WASHINGTON (Reuters) -     U.S. defense contractor Lockheed Martin Corporation has agreed to pay $29.74 million to settle allegations of defective pricing on contracts for F-35 military aircraft, the U.S. Justice Department said on Thursday.

The payment is in addition to $11.3 million the company previously paid to the Department of Defense for the same undisclosed cost and pricing data on some of the same contracts, the Justice Department added.

The allegations settled on Thursday were related to the U.S. False Claims Act.

 (Reporting by Kanishka Singh in Washington; Editing by Chris Reese)