Roundup: Eagle Bank, Lockheed, Martek, Case
From staff and wire reports
*Eagle Bancorp of Bethesda announced four new directors in the wake of its acquisition of Fidelity & Trust Financial. Robert P. Pincus, formerly chairman of Fidelity & Trust, will be vice chairman. Also on the board are Norman R. Pozez, chief executive of Uniwest; Susan Lacz, chief executive of Ridgewells; and Thomas W. Roberson, a partner of Montouri & Roberson. All three were on the board of Fidelity & Trust. Pincus and Roberson will also be directors of subsidiary EagleBank.
*Lockheed Martin delivered its first Littoral combat ship to the Navy with an estimated price tag of $550 million and the ability to move speedily in coastal waters to retrieve Marines. The Navy in April requested bids from both Bethesda-based Lockheed Martin and Falls Church-based General Dynamics to build an additional three ships. The service has envisioned awarding a contract for two ships to the winning bidder, while the other company would build the third. A decision on the contract was expected in August, but it has yet to be awarded.
*Martek Biosciences said it signed an exclusive contract to supply two nutritional supplements to Hero, an international consumer foods company based in Switzerland. Martek said it will be Hero's exclusive supplier of the omega-3 fatty acid DHA, and the omega-6 fatty acid ARA. Hero will use the supplements in infant formula and milks for young children. Martek did not disclose financial terms of the agreement, but described it as a multiyear deal.
*Steve Case, the co-founder and former chief executive of AOL, didn't use illegal insider information when he bought a Hawaii land company in 2000, a federal judge decided. U.S. District Judge Robert Jones ruled in favor of Case in a lawsuit claiming he committed insider trading in the $26 million purchase of Grove Farm Co., a former sugar plantation that owns 22,000 acres on the Hawaiian island of Kauai.
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