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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…

Abbott, et al. v. Lockheed Martin (Mismanagement of Retirement Plans)

Current and former employees of Lockheed Martin filed a class action lawsuit alleging the company mismanaged their 401(k) plans and charged excessive fees. The lawsuit alleged breach of fiduciary duty under the Employee Retirement Income Security Act of 1974 (ERISA) and claimed $1.3 billion in damages. In December 2014, the lawsuit settled for $62 million.

Misconduct Type
Labor
Enforcement Agency
Non-Governmental
Contracting Party
None
Court Type
Civil
Disposition
Settlement
Date of Original Complaint
9/11/2006
Contractors Involved Penalty
Total
Lockheed Martin $62,000,000
Further Information Released
Law Firm Press Release 2/20/2015
Second Amended Complaint 10/12/2011

Federal Contractor Misconduct Database