CAPCO Reaches Settlement with Former Employee and Federal Government
Settlement resolves all claims asserted in the complaint and federal government filed a motion to dismiss
GRAND JUNCTION, Colo., Dec. 3, 2019 /PRNewswire/ -- After fully cooperating with an exhaustive government investigation for nearly two years, Grand Junction-based CAPCO finalized a settlement with a former employee of the company and the federal government that fully and completely resolves all claims from a November 2017 lawsuit in which Capco admitted no wrongdoing or liability. The federal government filed a motion to dismiss earlier today.
During the process, the government commended the company for its transparency and the robust safeguards that were put into place since the beginning of the investigation. Capco has no reason to believe that any concerns identified in the complaint impacted in any way the effectiveness or safety of any of its products.
Cordell Bennigson, CEO of CAPCO, offered the following statement about reaching a settlement:
"As a company, this chapter has made us smarter and stronger. The safety and effectiveness of our products, which are used by the men and women who serve us all in the military and law enforcement, always has been and always will be Capco's highest priority. Today, Capco's quality and compliance systems are stronger than ever.
"We know that the government has confidence in our people, our quality, and our ability to deliver an excellent product, and we are proud to serve our nation's military and law enforcement professionals every day.
"Every challenge gives us choices about how to respond. Our team chose to address this complaint in a way that encompasses the values we embrace – transparency, trust, commitment, and extreme reliability."
The settlement comes as several new CAPCO programs move into full scale production. The simultaneous addition of these multiple new programs has positioned Capco for strong growth over the coming months and into the coming years. The new additions mark a wider portfolio of products than ever before and a strong backlog that will fuel CAPCO's business for years to come.
About CAPCO
Employing over 375 people in the Grand Valley, CAPCO combines innovative engineering solutions, cutting-edge research and development, and world-class vertically integrated manufacturing to provide industry-leading products to the U.S. Department of Defense, Law Enforcement, and allies around the world. With a focus on Extreme Reliability, CAPCO strives to make products smaller, lighter, stronger, more reliable and more effective. Our customers rely on CAPCO products to work right the first time – every time. Through fearless creativity, multidisciplinary scientific expertise, continuous improvement, and a commitment to excellence, the CAPCO team works together to exceed our customers' expectations today and to provide the best solutions for tomorrow.
For more information, visit http://capcoinc.com.
Contact:
Michelle Lyng
[email protected]
(202) 380-7114 (cell)
SOURCE CAPCO
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