Len Lanetti
Cleared for Takeoff
LATEST NEWS
April 15, 2005
Raytheon puts CFO on administrative leave
Ken Vandruff [font=Times New Roman,Times,Serif]Raytheon Co., the parent company of Raytheon Aircraft Co., placed its chief financial officer on administrative leave while offering to settle a federal investigation into the company's accounting practices on its commuter aircraft business.
The company offered to pay $12 million without admitting wrongdoing to settle an investigation by the Securities and Exchange Commission into accounting between 1997 and 2001 at Raytheon Aircraft Co.
Edward Pliner, senior vice president and chief financial officer, and an unidentified non-executive employee were placed on administrative leave pending the outcome of SEC action against them
Also Friday, Raytheon (NYSE: RTN) announced it will take a pre-tax charge of $39 million during the first quarter as part of the settlement in a class-action lawsuit related to the sale of its engineering and construction business to Washington Group International.
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© 2005 American City Business Journals Inc.
April 15, 2005
Raytheon puts CFO on administrative leave
Ken Vandruff [font=Times New Roman,Times,Serif]Raytheon Co., the parent company of Raytheon Aircraft Co., placed its chief financial officer on administrative leave while offering to settle a federal investigation into the company's accounting practices on its commuter aircraft business.
The company offered to pay $12 million without admitting wrongdoing to settle an investigation by the Securities and Exchange Commission into accounting between 1997 and 2001 at Raytheon Aircraft Co.
Edward Pliner, senior vice president and chief financial officer, and an unidentified non-executive employee were placed on administrative leave pending the outcome of SEC action against them
Also Friday, Raytheon (NYSE: RTN) announced it will take a pre-tax charge of $39 million during the first quarter as part of the settlement in a class-action lawsuit related to the sale of its engineering and construction business to Washington Group International.
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© 2005 American City Business Journals Inc.