NEW YORK—Loral Space & Communications said it will pay a $14 million civil fine without admitting guilt as part of a settlement with the Justice Department concerning the firm’s involvement in a failed Chinese rocket launch in 1996.
Loral, which contracted with a Chinese launch firm to help deploy a global mobile satellite system, said it was informed by the Justice Department the investigation into the alleged technology transfer and security breaches stemming from 1996 incident has been terminated. Loral said it has strengthened its export compliance procedures, already expending $2 million of the $6 million earmarked for improved oversight.
