Advertisement
YOU ARE HERE: LAT HomeCollections

CALIFORNIA | ALSO... | THE STATE

June 13, 1997

Los Angeles-based Hughes Electronics unit Hughes Aircraft will pay $500,000 to settle two federal contract fraud complaints, the Justice Department said. The payment resolves allegations that the company failed to properly test some electronic components on the Navy's Advanced Capacity Mark 48 torpedoes and used screws and other fasteners that didn't meet government specifications on some other military contracts. . . Chantal Pharmaceutical Corp., seeking to defuse a growing shareholder rebellion, agreed to hold its first shareholder meeting in more than five years in Los Angeles instead of New York. The Los Angeles-based company said it will delay the meeting for a month until July 17 to give it time to notify shareholders of the new location. . . . Milpitas-based Adaptec Inc. Chairman John Adler will retire at the end of August after 12 years with the chip maker.

Advertisement
Los Angeles Times Articles
|
|
|