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About POGO's Federal Contractor Misconduct Database (FCMD)
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 »
General Dynamics
Will v. General Dynamics (401(k) Fiduciary Lawsuit)
Date: 08/05/2010 (Date of Settlement Announcement)
Misconduct Type: Labor
Enforcement Agency: Non-Governmental
Contracting Party: None
Court Type: Civil
Amount: $15,150,000
Disposition: Settlement
Synopsis: General Dynamics and its 401(k) plan sponsor settled an ERISA (Employee Retirement Income Security Act of 1974) class action lawsuit filed by current and former employee participants in two General Dynamics 401(k) plans. The lawsuit alleged that participants were charged excessive fees. Under the settlement, a $15 million settlement fund will be created.
