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March 15, 1989 | From the Associated Press
Singer Co. and a former subsidiary were accused by the government Tuesday in a $231-million lawsuit of fraudulently inflating the price of military aircraft flight simulators. The suit, filed by the Justice Department, charged that Singer Co. and Link Flight Simulation Corp. fabricated higher cost estimates to offset price concessions that they might be forced to make during contract negotiations with the Defense Department.
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BUSINESS
May 29, 1989
Restrictions Put on Singer Co.: The firm has been barred from selling any of its assets or paying stock dividends pending a lawsuit about claims that a former subsidiary defrauded the government. The company, named as a co-defendant in a civil suit against its former Link Flight Simulation division, was also ordered not to incur any new debt or make any payments to investor Paul A. Bilzerian, the Florida financier who acquired the company last year. The preliminary injunction was sought by the Justice Department, which last March joined the $231-million lawsuit that had originally been filed by a former Link Flight pricing administrator.
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BUSINESS
May 29, 1989
Restrictions Put on Singer Co.: The firm has been barred from selling any of its assets or paying stock dividends pending a lawsuit about claims that a former subsidiary defrauded the government. The company, named as a co-defendant in a civil suit against its former Link Flight Simulation division, was also ordered not to incur any new debt or make any payments to investor Paul A. Bilzerian, the Florida financier who acquired the company last year. The preliminary injunction was sought by the Justice Department, which last March joined the $231-million lawsuit that had originally been filed by a former Link Flight pricing administrator.
BUSINESS
March 15, 1989 | From the Associated Press
Singer Co. and a former subsidiary were accused by the government Tuesday in a $231-million lawsuit of fraudulently inflating the price of military aircraft flight simulators. The suit, filed by the Justice Department, charged that Singer Co. and Link Flight Simulation Corp. fabricated higher cost estimates to offset price concessions that they might be forced to make during contract negotiations with the Defense Department.
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