Raytheon to pay $410 million to settle suit

[PfcHammer]

http://www.tucsoncitizen.com/index.php?page=business&story_id=051504b5_raytheon

Saturday, May 15, 2004

Raytheon to pay $410 million to settle suit

The Associated Press

WALTHAM, Mass. - Defense contractor Raytheon Co. will pay $410 million in cash and securities to settle a lawsuit filed nearly five years ago by shareholders who claimed the company misled them about its financial problems.The trial was set to start later this month in U.S. District Court in Boston.

"Although Raytheon believes this suit is without merit," the Waltham-based firm said in a statement released Thursday, "the company is pleased to put the uncertainty of the class action litigation behind it, and believes that the decision to settle is in the best interest of its shareholders."

<snip>

Raytheon's best-known products include the Tomahawk cruise missile and the Patriot air defense system.

Shares of Raytheon rose 43 cents to close at $33.12 on the New York Stock Exchange.

[tabasco]

1. These criminal war profiteers are running the country right now.

- Republicans (and to be fair, many corrupt Democrats) want to give your tax dollars to these treasonous bastards. We must retake our government and never let these people have this enormous power ever again. It is time for America to stop being so business-friendly and start being people-friendly. Our government is neglecting the people and taking care of business and the rich.
- We can have a great country that does not spend half of it's wealth on WAR. When you hear a politician talk about "national security", most of the time he is picking your pocket. It is time to defend our own borders and stop trying to run the world.
- I will really be proud to be an American when we are taking care of our own people first.

[Just Me]

5. Funneling public wealth to arms dealers and oil diggers is shameful!!

Moreover, the concentration of power in such greedy and destructive hands has created a disease to the health of our democracy and the well-being of our people.


I want my country back!!!!

[jackstraw45]

2. Don't worry..they'll get another $800 million DOD contract

soon to make up for the trouble....

[Aunt Anti-bush]

3. Funny how Bush has ties with all of these companies:

http://biz.yahoo.com/prnews/040510/nem027_1.html

President Bush has announced he intends to appoint William H. Swanson to the National Security Telecommunications Advisory Committee (NSTAC). Swanson is chairman and CEO of Raytheon Company.

[PfcHammer]

4. Ugh. :(