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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…

Stockholder Derivative Lawsuits Settlement

A stockholder derivative lawsuit filed in Texas federal court claimed that, from 2000 to 2002, various officers and directors of Electronic Data Systems Corp. improperly inflated the company’s revenues by more than $300 million through a contract with the U.S. Navy. In October 2007, EDS settled this and other pending shareholder lawsuits by authorizing its insurers to deposit $6 million in an escrow account and agreeing to implement various corporate governance changes.

Misconduct Type
Securities
Enforcement Agency
Non-Governmental
Contracting Party
Defense - Navy
Court Type
Civil
Disposition
Settlement
Date of Settlement
10/8/2007
Contractors Involved Penalty
Total
Electronic Data Systems $6,000,000
Further Information Released
Complaint 10/18/2007
Settlement 10/18/2007

Federal Contractor Misconduct Database