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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…

McKesson/HBOC, Inc. Securities Litigation

In January 2005, McKesson reached an agreement to settle a consolidated securities class action arising out of the discovery in April 1999 of accounting improprieties at HBO & Co., Inc. (HBOC), which McKesson acquired in January 1999. The improprieties turned out to be part of a long-running scheme at HBOC to fraudulently inflate revenue and net income, a scheme for which several former HBOC executives pled guilty. Under the agreement, McKesson agreed to pay the class members a total of $960 million in cash.

Misconduct Type
Securities
Enforcement Agency
Non-Governmental
Contracting Party
None
Court Type
Civil
Disposition
Settlement
Date of Settlement
1/12/2005
Contractors Involved Penalty
Total
McKesson $960,000,000
Further Information Released
McKesson Press Release 10/18/2006

See also:

Federal Contractor Misconduct Database