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Titan under SEC's microscope

  • Feb 19, 2004
The Securities and Exchange Commission is investigating allegations that Titan Corp. made illegal payments to consultants in foreign countries, but the investigation is not expected to derail Titan's acquisition by Lockheed Martin Corp., company officials said.

The payments were reported to the Justice Department and the SEC by Titan and Lockheed Martin after the two companies discovered them during normal preparations for the acquisition.

The acquisition is expected to close March 16 when Titan's shareholders vote on the deal, said Wil Williams, a Titan spokesman.

 

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