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…

IBM Securities Litigation

IBM agreed to pay $20 million to settle a shareholders lawsuit that claimed the company misled the public about employee stock-option expenses in 2005. The lawsuit, brought on behalf of shareholders who bought IBM common stock in April 2005, alleged IBM manipulated expectations for its first-quarter earnings announcement in 2005. A year earlier, the Securities and Exchange Commission determined that IBM’s conduct had violated federal law, but it did not amount to fraud. See related IBM instance, “Providing Materially Misleading Financial Statements.”

Misconduct Type
Securities
Enforcement Agency
Non-Governmental
Contracting Party
None
Court Type
Civil
Disposition
Settlement
Date of Settlement
5/30/2008
Contractors Involved Penalty
Total
IBM Corporation $20,000,000
Further Information Released
Complaint 6/11/2008
Order & Settlement 6/11/2008

See also:

Federal Contractor Misconduct Database