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 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.