Menu

Federal Contractor Misconduct Database (FCMD)

The federal government routinely awards contracts to companies with histories of misconduct, including contract fraud and other violations. POGO believes that providing this website will help to improve contracting decisions and increase public knowledge of how the government spends billions of taxpayer dollars each year. Read more…

Norfolk County Retirement System v. Ustian, et al. (Securities Fraud)

A securities fraud lawsuit was filed against Navistar, several of its current and former senior officers and its former outside auditing firm on behalf of investors who purchased Navistar International Corp. securities on the open market from February 14, 2003 through July 17, 2006. The complaint alleged the defendants knowingly and fraudulently misrepresented Navistar’s financial results during the class period, and when the true results were reported it caused a 30% drop in Navistar’s stock price. In November 2010, Navistar agreed to settle the lawsuit for $13 million. See related Navistar Defense instance, “Garza v. Belton, et al. (Securities Fraud).”

Misconduct Type
Securities
Enforcement Agency
Non-Governmental
Contracting Party
None
Court Type
Civil
Disposition
Settlement
Date of Complaint
12/13/2007
Contractors Involved Penalty
Total
Navistar Defense LLC $13,000,000
Further Information Released
2011 10-K excerpt 12/20/2011
2008 10-K excerpt (p. 2 of 3) 4/8/2009
Complaint 12/13/2007

See also:

Federal Contractor Misconduct Database