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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

Policemen and Firemen Retirement System of Detroit Shareholder Lawsuit

Date: 05/14/2009 (Date of Complaint)

Misconduct Type: Securities

Enforcement Agency: Non-Governmental

Contracting Party: None

Court Type: Civil

Amount: $0

Disposition: Settlement

Synopsis: The Policemen and Firemen Retirement System of Detroit, a municipal pension fund, filed a lawsuit against Halliburton Company and its former subsidiary KBR alleging that poor oversight and lack of internal controls at the two companies enabled a pervasive environment of corruption that severely damaged investors' holdings. (KBR was later dropped from the lawsuit.) In July 2012, a proposed settlement was reached in which Halliburton agreed to take certain remedial actions, such as recovering incentive compensation paid to any officer or director who was involved in or approved illegal activities and revising its code of business conduct.