Lockheed Martin Settles Securities Fraud Class-Action

On February 19, 2013, Lockheed Martin Corp. agreed to pay $19.5 million to settle a securities fraud class-action lawsuit. In July 2011, the City of Pontiac General Employees’ Retirement System, the public employees’ pension fund for Pontiac, Michigan, accused Lockheed for misleading investors about its information technology division. Lockheed was blamed for misstatements that led…