Summary
Lockheed Martin Corporation (LMT) has filed an 8-K report detailing a significant legal action initiated on June 10, 2003. The company announced it has filed a lawsuit against The Boeing Company and three former Boeing employees. This lawsuit centers on allegations of violations of Federal and Florida law concerning the solicitation, acquisition, and use of Lockheed Martin's proprietary information. The core of the dispute revolves around the competition for launch contract awards under the U.S. Air Force's Evolved Expendable Launch Vehicle (EELV) program. Lockheed Martin is seeking compensatory damages, including treble and punitive damages, along with costs and injunctive relief. While the outcome is uncertain, this litigation could have implications for future contract competitions in the government and commercial launch vehicle sectors.
Key Highlights
- 1Lockheed Martin filed a lawsuit against The Boeing Company and three former Boeing employees on June 10, 2003.
- 2The lawsuit alleges violations of Federal and Florida law related to the misuse of Lockheed Martin's proprietary information.
- 3The dispute stems from the competition for U.S. Air Force Evolved Expendable Launch Vehicle (EELV) program launch contracts.
- 4Lockheed Martin is seeking compensatory, treble, and punitive damages, as well as injunctive relief.
- 5The company acknowledges that the success of the lawsuit and its potential impact on future competitions are uncertain.
- 6The press release announcing the lawsuit is attached as an exhibit to the 8-K filing.