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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…
Reporting Materially False or Misleading Financial Information in 2002 and 2003
General Electric agreed to pay a $50 million penalty to settle charges filed by the Securities and Exchange Commission alleging that, on four separate occasions in 2002 and 2003, GE misled investors by reporting materially false and misleading results in its financial statements. The SEC alleged that GE used improper accounting methods to increase its reported earnings or revenues and avoid reporting negative financial results. Without admitting or denying the allegations, GE agreed to the penalty and consented to the entry of an order permanently enjoining it from violating the federal securities laws.
- Misconduct Type
- Securities
- Enforcement Agency
- SEC
- Contracting Party
- None
- Court Type
- Civil
- Disposition
- Settlement
- Date of Announcement
- 8/4/2009