Aerojet Rocketdyne, US Settle Contract Accounting Dispute (1)

Aerojet Rocketdyne Inc. and the US government have settled a dispute under which the contractor said the Defense Contract Management Agency improperly demanded a $11.5 million payment under a cost accounting practice change.

• “L3Harris is pleased with the settlement and resolution of this matter and looks forward to continuing its strong and productive relationship with the government,” said a spokesperson for L3Harris Technologies, which agreed to acquire Aerojet Rocketdyne in 2022.
• Terms of the settlement weren’t made available, and the Justice Department didn’t respond to a request for comment
• Aerojet Rocketdyne’s complaint, filed in 2022, said the agency’s claim ...