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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 »

AmerisourceBergen

Bridge Medical Stockholder Lawsuit

Date: 09/04/2007 (Date of Ruling)

Misconduct Type: Securities

Enforcement Agency: Non-Governmental

Contracting Party: None

Court Type: Civil

Amount: $26,900,000

Disposition: Judgment Against Defendant

Synopsis: The Delaware Court of Chancery ruled that AmerisourceBergen must pay $21 million, plus prejudgment interest of $5.9 million, to the former stockholders of Bridge Medical Inc., a former subsidiary AmerisourceBergen acquired in 2003 and sold in 2005. The stockholders alleged they were entitled to payments that were conditioned upon Bridge achieving certain earnings levels in 2003 and 2004, and that AmerisourceBergen breached its obligations to assist the Bridge sales force and promote its bedside point-of-care patient safety product.