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The government awards contracts to companies with histories of misconduct such as contract fraud and environmental, ethics, and labor violations. In the absence of a centralized federal database listing instances of misconduct, the Project On Government Oversight (POGO) is providing such data. We believe that it will lead to improved contracting decisions and public access to information about how the government spends hundreds of billions of taxpayer money each year on goods and services. Report an instance of misconduct »

Halliburton

SEC v. Halliburton (Accounting Practices)

Date: 08/03/2004 (Date of Settlement)

Misconduct Type: Securities

Enforcement Agency: SEC

Contracting Party: None

Court Type: Civil

Amount: $7,500,000

Disposition: Settlement

Synopsis: In response to Halliburton's failure to disclose a 1998 change to its accounting practice, the Securities and Exchange Commission began enforcement proceedings. As a result of that undisclosed change, Halliburton's public statements regarding its income in 1998 and 1999 were materially misleading. Halliburton agreed to settle the enforcement actions by consenting to a Commission order to cease and desist from committing or causing future securities law violations. Additionally, Halliburton and its former controller, Robert C. Muchmore, Jr., agreed to pay penalties of $7.5 million and $50,000, respectively.