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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…
Accounting Irregularities (Securities Litigation)
A consolidated securities class action lawsuit claimed Dell violated the Securities Exchange Act of 1934 by engaging in accounting fraud and making false and misleading disclosures to inflate its revenues by approximately $463 million from fiscal years 2003 to 2007. In October 2008, the court dismissed the lawsuit. During the appeal, both sides negotiated a settlement under which Dell agreed to pay $40 million.
- Misconduct Type
- Securities
- Enforcement Agency
- Non-Governmental
- Contracting Party
- None
- Court Type
- Civil
- Disposition
- Settlement
- Date of Settlement
- 11/20/2009
| Contractors Involved |
Penalty |
| Total |
|
| Dell, Inc. |
$40,000,000
|
