Posted: Tue, Jun 10, 2003, 6:55 AM ET (1055 GMT)
Northrop Grumman announced it would pay $111 million to settle a federal lawsuit alleging that TRW overcharged on military space contracts. Lawsuits filed the US Justice Department and a former TRW executive in the mid-1990s accused TRW of improperly charging commercial and other work on military space contracts the company held. Northrop, which acquired TRW last year, agreed to settle the suit without admitting any wrongdoing. The suit covered activities at TRW's space unit while it was led by Dan Goldin, who later became NASA administrator; Goldin was not named in the suit.

Related Links:

•  Northrop Grumman press release
•  Wall Street Journal article (subscription required)
•  Reuters article