LAWSUITS NEWS & LEGAL INFORMATION
Submarine Decompression Chambers
Southampton, PA: (Oct-15-07) The federal government brought charges against Environmental Tectonics Corporation (ETC), alleging that the company provided substandard services to the US Navy. Sources claim that effective from October 2, 2007, the US Navy suspended ETC from performing work for the federal government pursuant to the Federal Acquisition Regulations. On October 10, 2007, representatives from ETC and the company's attorneys met with the Navy's suspending official to discuss the suspension.
As part of a settlement agreement, the company agreed to pay the government $3.3 million. Under the terms of the deal, ETC will transfer the submarine rescue decompression chambers to the Government, at which time the company will have no further obligations or claims under this contract. In September 2007, at the government's request, the company agreed to increase the amount to be paid to the government from $3.3 million to $3.55 million. The settlement is pending approval. [CNN NEWS: NAVY CONTRACT]
Published on Oct-16-07
As part of a settlement agreement, the company agreed to pay the government $3.3 million. Under the terms of the deal, ETC will transfer the submarine rescue decompression chambers to the Government, at which time the company will have no further obligations or claims under this contract. In September 2007, at the government's request, the company agreed to increase the amount to be paid to the government from $3.3 million to $3.55 million. The settlement is pending approval. [CNN NEWS: NAVY CONTRACT]
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