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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…

Providing Materially Misleading Financial Statements

The Securities and Exchange Commission concluded an investigation of IBM, finding the company misled analysts about employee stock-option expenses in 2005. The SEC said IBM’s conduct violated the reporting provisions of the Securities and Exchange Act of 1934 and ordered IBM to cease and desist from committing or causing violations of these provisions. However, the SEC stopped short of finding fraud had been committed and imposed no fine. See related IBM instance, “IBM Securities Litigation.”

Misconduct Type
Securities
Enforcement Agency
SEC
Contracting Party
None
Court Type
Administrative
Disposition
Settlement
Date of Settlement
6/5/2007
Contractors Involved Penalty
Total
IBM Corporation $0
Further Information Released
SEC Press Release 6/7/2007

See also:

Federal Contractor Misconduct Database