TDG - TransDigm overcharged U.S. should repay $20.8M lawmakers say

Two top D.C. lawmakers have joined the Pentagon in pushing for TransDigm (NYSE:TDG) to pay $20.8M in voluntary refunds for the costs of spare parts that were deemed excessive by the U.S. Department of Defense's inspector general, Bloomberg reported Monday. The $20.8M "may be only the tip of the iceberg," Democrat Rep. Carolyn Maloney, chair of the House Oversight Committee, and Republican Senator Chuck Grassley wrote in a letter to the company. TransDigm (TDG), one of the Pentagon's largest spare-parts suppliers, collected excess profits on 105 parts from during 2017-19, according to a two-year inspector general's inquiry that was released in December. The IG reviewed a sample of just 3% of TransDigm's (TDG) contracts during the period and did not examine any contracts from July 2019 through the present, when DoD awarded the company more than $500M in contracts, the lawmakers wrote. The company has consistently opposed a voluntary refund in

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TransDigm overcharged U.S., should repay $20.8M, lawmakers say