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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…

V-22 Osprey Shareholder Litigation

Textron paid $7 million to settle shareholder lawsuits accusing the company and its executives of failing to disclose problems at the company’s Bell Helicopter unit. They alleged that Textron issued false and misleading statements to investors between October 2000 and September 2001 by failing to disclose that the V-22 Osprey military aircraft it was manufacturing had design problems that would result in production delays and negatively impact the company’s financial condition.

Misconduct Type
Securities
Enforcement Agency
Non-Governmental
Contracting Party
Defense - General
Court Type
Civil
Disposition
Settlement
Date of Settlement
3/26/2007
Contractors Involved Penalty
Total
Textron, Inc. $7,000,000
Further Information Released
Settlement Agreement and Notice 3/26/2007

Federal Contractor Misconduct Database