AEROSPACE

Teledyne Settles Fraud Allegations: Teledyne Industries Inc. will pay the U.S. government $2 million to settle allegations it improperly tested electronic equipment sold to the Air Force. The Justice Department announced that the Los Angeles-based firm settled a false-claims suit brought by a former employee, George Cave, in July, 1994, over the testing of equipment used to distinguish between friendly and unfriendly aircraft. Under federal law, Cave will receive $300,000 of the settlement as a reward for bringing the allegations to light. Teledyne also agreed to pay Cave an additional $200,000 for attorneys’ fees, costs and other expenses.