12:57 PM EDT, 10/16/2024 (MT Newswires) -- RTX (RTX) agreed to pay $290 million to settle claims of violating US arms export laws, Bloomberg reported Wednesday.

The company was being investigated by the US Department of Justice's criminal fraud section for alleged violations of the Foreign Corrupt Practices Act between 2012 and 2016.

In addition to the fine, the company also agreed to extend its corporate compliance programs and to be under a corporate monitor, the report said.

RTX did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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