United Technologies (UTX +1.1%) has been ordered to pay $473M, plus interest, for overcharging...

|About: United Technologies Corpora... (UTX)|By:, SA News Editor

United Technologies (UTX +1.1%) has been ordered to pay $473M, plus interest, for overcharging the US Air Force for jet engines. The ruling is the result of a lawsuit filed by the DoJ in 1999 seeking reimbursement for inflated costs by UTX unit Pratt & Whitney under the False Claims Act. Since the judgement includes interest charges, hundreds of millions in dollars could be added to the $473M price tag once it's all tallied, as the overcharges go all the way back to 1986.