Aerospace Group:

BAE Systems To Pay Fines Under Settlements With U.S., U.K.

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Friday, February 12th, 2010

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BAE Systems, the U.S. Department of Justice and the U.K. Serious Fraud office Friday announced settlements in connection with legacy investigations. The agreements will result in payment of a $400 million fine in the United States and about $47 million to the United Kingdom. BAE issued a statement from Chairman Dick Olver on the settlement: "The company very much regrets and accepts full responsibility for these past shortcomings...These settlements enable the company to deal finally with significant legacy issues. In…

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