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Violation Tracker Individual Record

Company: Raytheon Company
Current Parent Company: RTX Corporation
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Penalty: $12,000,000
Year: 2006
Date: June 28, 2006
Offense Group: financial offenses
Primary Offense: accounting fraud or deficiencies
Violation Description: Raytheon Company agreed to pay $12 million to settle allegations that, in periodic reports filed with the Commission from 1997 to 2001, Raytheon made false and misleading disclosures and used improper accounting practices that operated as a fraud by failing to adequately and accurately disclose the declining financial results and deteriorating business of Raytheon's commercial aircraft manufacturing subsidiary, RAC.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: Massachusetts
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: aerospace and military contracting
Specific Industry of Current Parent: aerospace & military contracting
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.