Kaman Announces Settlement of FMU-143 Litigation

Kaman Corporation

announced today that its subsidiary Kaman Precision Products, Inc., located in Orlando, FL, and the U.S. Government have entered into an agreement to settle lawsuits related to KPPI's prior FMU-143 fuze program. As previously reported by the Company, the litigation has involved contract termination and monetary legal actions by both parties and a civil False Claims Act action brought by the Department of Justice. Under the terms of the settlement, KPPI will make a payment to the USG in the amount of $4.75 million and each party will release the other as to the subject matters of the litigations. Neither party has admitted liability in connection with the settlement. Additionally, the USG agreed as part of the settlement to withdraw its fraud allegations in connection with termination of KPPI's FMU-143 contract, which the Company has consistently and strongly denied.