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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…
Waldbuesser et al v. Northrop Grumman (ERISA Violations)
A class-action lawsuit alleged Northrop Grumman charged unreasonable fees and expenses on employees’ 401(k) plans. The lawsuit alleged Northrop failed to monitor fees and expenses paid by the plans, implement and follow plan procedures, disclose that hidden and excessive fees were being assessed, inform the plan’s participants about the fees, and fire the workers responsible for the fees. The lawsuit also alleged Northrop used the fees and expenses for purposes not allowed by the Employee Retirement Income Security Act (ERISA). In June 2017, it was announced that Northrop agreed to pay $16.75 million to settle claims covering the period between September 2000 and May 2009.
- Misconduct Type
- Securities
- Enforcement Agency
- Non-Governmental
- Contracting Party
- None
- Court Type
- Civil
- Disposition
- Settlement
- Date of Original Complaint
- 9/28/2006