Teledyne Technologies to Pay $1.5 Million to Settle US Military Parts Allegations

MT Newswires Live01-06

Teledyne Technologies (TDY) agreed to pay $1.5 million to settle allegations that it supplied aircraft parts to the US military that failed to meet contract specifications, the Department of Justice said Monday.

The company, acting as a subcontractor on US Navy contracts, "knowingly caused false claims to be submitted" for Digital Recovery Sequencer units used in ejection seat systems, the department alleged.

The company allegedly used a microelectronic part from an unauthorized third-party broker, rather than an approved manufacturer or reseller, the DOJ said. The units were delivered from November 2011 to June 2012 and installed in military aircraft, the agency said.

Teledyne received cooperation credit for steps it took during the investigation, including identifying witnesses and facilitating interviews, the agency said.

"The claims resolved by the settlement are allegations only, and there has been no determination of liability," according to the statement.

Teledyne Technologies didn't immediately respond to a request for comment from MT Newswires.

Price: 527.04, Change: +8.27, Percent Change: +1.59

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