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Rockwell Collins Inc. has settled two class-action lawsuits that arose following its plan to acquire of B/E Aerospace Inc. for $8.6 billion, essentially agreeing to pay $150,000 in legal fees, according to a disclosure filed Monday . B/E Aerospace and its directors were listed as defendants in both suits and Rockwell Collins and Quarterback Merger Sub Corp. were named as defendants in one of them. The plaintiffs argued that B/E Aerospace’s directors breached their fiduciary duties to B/E Aerospace’s stockholders and that Rockwell Collins and Quarterback aided and abetted the alleged breaches.
A top executive with avionics supplier Rockwell Collins said Wednesday that the company’s work force and production facilities in Winston-Salem remain critically important to the Cedar Rapids, Iowa-based firm following its $8.6 billion acquisition of B/E Aerospace last month. "It's mission critical," said Werner Lieberherr, executive vice president and chief operating officer of interior systems at Rockwell, to TBJ during a media tour of the company’s labs and plants this morning. "It's a very critical place, and Rockwell Collins recognizes that," he said.
Rockwell Collins Inc's second-quarter revenue beat analysts' estimates and the aircraft components maker raised its full-year revenue forecast to reflect the impact of its recently closed acquisition of aircraft interiors maker B/E Aerospace. Rockwell's shares rose as much as 5 percent to a record high $104.54 on Friday. Rockwell said on Friday it expected revenue of $6.7 billion to $6.8 billion for the year ending Sept. 30.