Aerojet Rocketdyne ( NYSE: AJRD ) agreed to pay $9M to settle allegations that it violated U.S. law by misrepresenting its compliance with cybersecurity requirements in certain federal government contracts, the U.S. Department of Justice said on Friday.
The settlement resolves a lawsuit filed and litigated by a former Aerojet ( AJRD ) employee under the whistleblower provisions of the False Claims Act, which permit a private party to file a lawsuit on behalf of the U.S. and receive a portion of any recovery; the whistleblower will receive $2.61M as his share of the False Claims Act recovery.
Aerojet ( AJRD ) CEO Eileen Drake recently defeated Chairman Warren Lichtenstein to culminate a protracted proxy fight .
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Aerojet Rocketdyne to pay $9M in DoJ settlement