Last updated: July 1, 2011

LAWSUIT DISMISSED

Judge Virginia M. Hernandez Covington signed the attached order which dismisses the Sher et al. v. Raytheon litigation that had been pending in federal court.  As set forth in the attached order, the case was dismissed after plaintiffs' counsel Brian Barr acknowledged in Court that: (1) the case could not proceed as a class action; (2) there is no basis to conclude that any contamination from the St. Petersburg site had spread beyond the geographic boundary shown by the "temporary point of compliance" line that the Florida Department of Environmental Protection has approved for remediation; (3) there is no basis for any concern that the contamination (which is primarily deep below the ground and at relatively low concentrations off-site) imposes any threats to health; and (4) there is no statistical diminution of property values in the area based on the work of plaintiffs' own expert, Dr. Kilpatrick (or on the work of the other property experts that have conducted statistical research into this issue during the three year litigation). Most importantly, the Court's Order notes that plaintiffs' counsel has recognized that Raytheon's remediation plans go above and beyond what may be required under Florida law and will provide complete redress for any impacted property in the area. By the same Court Order, plaintiffs' counsel will not receive any legal fees from their pursuit of this matter.

Notwithstanding this legal result, as part of "its corporate citizenship and overall efforts to support the community," Raytheon agreed to make home improvement funds available to the named plaintiffs in the litigation who reside within the remedial area. Raytheon also noted in Court that it is pleased to provide such funds to other similarly situated residences.

In order to participate in this program (or to determine eligibility or otherwise receive information about this program), Raytheon encourages residents to contact plaintiffs' counsel Brian Barr, of the Levin Papantonio lawfirm, at BBarr@LevinLaw.com or by phone at (toll-free) 888-435-7001.

FLORIDA DEP APPROVES REMEDIAL ACTION PLAN

The Florida Department of Environmental Protection's approval of Raytheon's Remedial Action Plan became final. Accordingly, Raytheon will now commence its multi-pronged approach to fully remediate the St. Petersburg facilty site and surrounding area, as detailed in Raytheon's prior filings.