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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…

City of Roseville Employees’ Retirement System v. CSC (Securities Class Action)

Computer Sciences Corporation investors filed a class-action lawsuit alleging that the company, its CEO, Michael Laphen, and its CFO, Michael Mancuso, violated the Securities Exchange Act of 1934 by issuing false and misleading statements about its financial condition between August 11, 2010 and May 25, 2011. The plaintiffs claimed that as a result of the false statements, CSC stock traded at artificially inflated prices which fell sharply after corrected financial data was published, causing investors to suffer economic losses. In May 2013, the parties settled the lawsuit for $97.5 million. See related Computer Sciences Corporation instance, “Accounting Errors Regarding U.K. Contracts”.

Misconduct Type
Securities
Enforcement Agency
Non-Governmental
Contracting Party
None
Court Type
Civil
Disposition
Settlement
Date of Complaint
6/2/2011
Contractors Involved Penalty
Total
Computer Sciences Corporation $97,500,000
Further Information Released
Settlement Agreement 5/15/2013
Complaint 6/8/2011
Law Firm Press Release 6/8/2011

See also:

Federal Contractor Misconduct Database