KBR, Inc. (KBR) disclosed in a filing with the regulatory, that the Federal Court, hearing the claims made by The Event Source or TES, against certain of company's subsidiaries, involving payment for services in connection with LogCAP III contract, issued an order in favor of TES in the amount of $14.97 million in actual damages, including interest accruing at 5% from December 2005, and $4 million in punitive damages relating to a disputed settlement agreement entered in May 2005.
KBR said it has also incurred nearly $9 million in legal fees and costs defending this matter, and added that it has not yet concluded its analysis related to assessing the merits of any appeal of the order.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.