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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…

Garza v. Belton, et al. (Securities Fraud)

Richard Garza filed a stockholders’ derivative lawsuit alleging Navistar’s executive officers, two of its former executive officers, and certain of its directors violated their fiduciary obligations by willfully ignoring certain accounting and financial reporting problems at the company, thereby knowingly disseminating false and misleading financial information about the company, and were unjustly enriched in connection with their sale of company stock between December 2002 and January 2006. According to a company financial filing, the parties settled the lawsuit in February 2011"for an immaterial amount." See related Navistar Defense instance, “Norfolk County Retirement System v. Ustian, et al. (Securities Fraud).”

Misconduct Type
Securities
Enforcement Agency
Non-Governmental
Contracting Party
None
Court Type
Civil
Disposition
Settlement
Date of Complaint
3/7/2008
Contractors Involved Penalty
Total
Navistar Defense LLC Undisclosed
Further Information Released
2011 10-K excerpt 12/20/2011
Complaint 3/7/2008

See also:

Federal Contractor Misconduct Database