LEXINGTON, MASS. — Raytheon Co. officials and their general counsel today expressed scorn for the lawsuit filed against the company by Washington Group International.
During a conference call with analysts early on Friday, Raytheon officials and their general counsel said the suit was without merit and had been filed without advance notice to Raytheon, while Raytheon had been working with Washington Group’s financial advisors to help Washington Group avoid bankruptcy. Raytheon officials and general counsel also expressed confidence that they would prevail in the lawsuit.
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Washington Group is suing Raytheon over the sale of Raytheon Engineers & Constructors, alleging that Raytheon withheld and misrepresented information during the negotiation process.
Washington Group, a construction firm based in Boise, Idaho, said last week that it was experiencing a “liquidity crisis” and that it had defaulted on bank loans, reports said. Company officials were not immediately available for comment following Raytheon’s call.
