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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 Livonia Employees’ Retirement System v. Wyeth (Shareholder Lawsuit)

Pfizer agreed to pay $67.5 million to settle a class-action lawsuit filed by Wyeth shareholders who claimed they were misled about the risks associated with the antidepressant drug Pristiq (desvenlafaxine). Shareholders alleged that Wyeth’s failure to reveal Pristiq’s adverse cardiovascular and hepatic effects caused the company’s stock price to be inflated between June 2006 and July 2007. The value of the stock dropped more than 10 percent after the company disclosed in July 2007 that the Food and Drug Administration was withholding approval of Pristiq.

Misconduct Type
Securities
Enforcement Agency
Non-Governmental
Contracting Party
None
Court Type
Civil
Disposition
Settlement
Date of Complaint
4/11/2008
Contractors Involved Penalty
Total
Wyeth $67,500,000
Further Information Released
Notice of Proposed Settlement 11/9/2012
Complaint 4/11/2008

Federal Contractor Misconduct Database