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Reuters: Lockheed Drops Legal Challenge to Army JLTV Contract Award

JLTVLockheed Martin (NYSE: LMT) has withdrawn a lawsuit it filed in federal court to challenge the U.S. Army‘s selection of Oshkosh Corp. (NYSE: OSK) for the $6.75 billion Joint Light Tactical Vehicle contract, Reuters reported Wednesday.

Andrea Shalal writes that John Kent, a Lockheed spokesman, told Reuters the company made the decision after a “careful deliberation.”

The U.S. Federal Claims Court last week refused to grant Lockheed a preliminary injunction that sought to halt Oshkosh’s production of the ground combat vehicles to replace the Humvees of the Army and the U.S. Marine Corps.

Oshkosh said Friday it will continue work on the eight-year program based on the court’s decision.

Lockheed brought its JLTV contract award concerns to court after the Government Accountability Office dismissed on procedural grounds the company’s initial protest in December.

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