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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 »
General Motors Corp.
In re General Motors ERISA Litigation
Date: 01/15/2008 (Date of Settlement Announcement)
Misconduct Type: Labor
Enforcement Agency: Non-Governmental
Contracting Party: None
Court Type: Civil
Synopsis: In May 2005, a class action suit named GM as a defendant, alleging “that the GM defendants breached their fiduciary duties to plan participants by, among other things, investing their assets, or offering them the option of investing, in GM stock on the ground that it was not a prudent investment.” In January 2008, the parties filed a motion for preliminary approval of a proposed settlement. If approved, the settlement will provide a cash fund of $37.5 million.