Titan Reaches Settlement Agreement with Navy

    March 2, 2005

Titan confirmed today that it has reached an administrative settlement agreement with the U.S. Navy debarring official.

This will allow Titan to continue to bid, receive and perform on United States government contracts.

The administrative settlement agreement was concluded after Titan entered into a consent to a final judgment with the Securities and Exchange Commission and reached a plea agreement with the U.S. Department of Justice.

According to Reuters, Titan has agreed to pay $28.5 million to settle related criminal proceedings.

WebProNews | Breaking eBusiness News
Your source for investigative ebusiness reporting and breaking news.