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Lockheed Sued For Reporting False Outlook
A Pennsylvania realty firm, Colonial Realty Co. of Bala-Cynwyd, sues Lockheed Aircraft in U.S. District Court alleging false and misleading prospectus about a $1.4 billion Air Force C5 contract. Colonial claims bond purchases at $1,000 each based on timely disclosures, now trading around $750, and seeks damages for losses to investors since 1965. The suit names Blyth and Co. and 28 Lockheed officials.
MENTIONED IN THIS ARTICLE
Washington
Pennsylvania
Lockheed Aircraft Corp
Colonial Realty Co
Bala-Cynwyd
Philadelphia
Lockheed
Colonial
Securities and Exchange Commission
Congress
New York
Blyth and Co