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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…

Boardroom Leak Investigation (Stockholder Derivative Lawsuits)

Stockholder derivative lawsuits filed in California and Delaware on behalf of HP stockholders sought to recover damages for alleged breach of fiduciary duty as a result of the activities of the boardroom leak investigation (see Hewlett-Packard instances “Boardroom Leak Investigation (California)” and ”Boardroom Leak Investigation (SEC”).) In December 2007, HP and the plaintiffs in the California and Delaware derivative actions entered into an agreement to settle those lawsuits. Under the terms of the settlement, HP agreed to continue certain corporate governance changes until December 31, 2012 and to pay the plaintiffs’ attorneys’ fees ($3.8 million for California counsel and $2.5 million for Delaware counsel).

Misconduct Type
Securities
Enforcement Agency
Non-Governmental
Contracting Party
None
Court Type
Civil
Disposition
Settlement
Date of Settlement
12/14/2007
Contractors Involved Penalty
Total
Hewlett-Packard Company $6,300,000
Further Information Released
2008 Form 10-K (p. 151 of 174) 3/3/2009
Settlement 3/3/2009

See also:

Federal Contractor Misconduct Database