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Article: Raytheon, Idaho-Based Washington Group End Legal War over Construction Unit.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- November 9, 2001
CopyrightCOPYRIGHT 2001 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Ross Kerber, The Boston Globe Knight Ridder/Tribune Business News
Nov. 9--Raytheon Co. and Washington Group International Inc. agreed yesterday to drop competing claims and end their bitter legal battle over the sale of Raytheon's heavy-construction unit last year.
If approved by a bankruptcy court judge, the settlement would lift some uncertainty from the financial outlook for Raytheon, the Lexington-based defense contractor, and support a broader agreement to allow Idaho-based Washington Group to emerge from bankruptcy protection.
The construction firm launched the legal battle in March, claiming in a lawsuit that Raytheon had hidden cost ...