Menu

Federal Contractor Misconduct Database (FCMD)

The federal government routinely awards contracts to companies with histories of misconduct, including contract fraud and other violations. POGO believes that providing this website will help to improve contracting decisions and increase public knowledge of how the government spends billions of taxpayer dollars each year. Read more…

Securities Class Action

Thousands of investors filed a class-action lawsuit against Force Protection alleging the company and its top officers made false and misleading statements regarding financial results, failed to maintain effective internal controls over financial reporting, and failed to comply with government contracting standards. They claimed the company failed to warn shareholders about delays in delivering vehicles and about a flawed accounting system that affected Force Protection’s ability to win government contracts. Investors filed the lawsuit in March 2008 after the stock price fell from a high of more than $30 a share to less than $3. Force Protection agreed to a settlement in which it admitted no wrongdoing and paid class members a total of $24 million. Force Protection was also ordered to pay approximately $6.4 million in attorneys’ fees and expenses and $15,000 in damages to each of the lead plaintiffs.

Misconduct Type
Securities
Enforcement Agency
Non-Governmental
Contracting Party
None
Court Type
Civil
Disposition
Settlement
Date of Settlement Announcement
1/25/2011
Contractors Involved Penalty
Total
Force Protection, Inc. $30,486,377
Further Information Released
Complaint 1/7/2012
Final Judgment 1/7/2012
Law Firm Press Release 5/20/2011
Order Approving Settlement 5/20/2011

Federal Contractor Misconduct Database