RTX fined $200 million for violating export laws, including providing intellectual property to China

From Investing.com: 2024-08-30 13:30:33

RTX Corp fined $200 million for violating export laws, including exchanging data with prohibited countries like China. State Department says company failed to comply with regulations for exporting defense articles. RTX set aside $1 billion to resolve legal matters, including providing intellectual property to China.

RTX disclosed mistakenly providing sensitive information about an F-22 Raptor Fighter Aircraft component to Chinese citizens in Shanghai. Company to retain independent compliance monitors for three years. Half of the $200 million fine will fund compliance program. Fine part of three legal matters resulting from RTX’s integration of Rockwell Collins and Raytheon.



Read more at Investing.com: RTX fined $200 million for exports to China and others, US says By Reuters