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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…

Werbowsky, et al. v. Boeing et al. (Securities Class Action)

The original suit was filed in October 1997 following Boeing’s announcement that it was implementing production recovery plans that involved temporarily shutting down the 747 and 737 Next Generation assembly lines, and that charges associated with these recovery plans and late delivery costs totaled approximately $1.6 billion pre-tax for the third quarter of 1997. “The plaintiffs contended that Boeing withheld knowledge of the facts leading to these announcements. Boeing’s stock price declined following the announcement of the third quarter charge. In their complaint, plaintiffs alleged that the defendants had violated the federal and state securities laws and the Washington Consumer Protection Act.”

Misconduct Type
Securities
Enforcement Agency
Non-Governmental
Contracting Party
None
Court Type
Civil
Disposition
Settlement
Date of Settlement
9/21/2001
Contractors Involved Penalty
Total
Boeing Company $92,500,000
Further Information Released
Boeing Press Release 6/19/2006

Federal Contractor Misconduct Database