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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…
City of Roseville Employees’ Retirement System v. CSC (Securities Class Action)
Computer Sciences Corporation investors filed a class-action lawsuit alleging that the company, its CEO, Michael Laphen, and its CFO, Michael Mancuso, violated the Securities Exchange Act of 1934 by issuing false and misleading statements about its financial condition between August 11, 2010 and May 25, 2011. The plaintiffs claimed that as a result of the false statements, CSC stock traded at artificially inflated prices which fell sharply after corrected financial data was published, causing investors to suffer economic losses. In May 2013, the parties settled the lawsuit for $97.5 million. See related Computer Sciences Corporation instance, “Accounting Errors Regarding U.K. Contracts”.
- Misconduct Type
- Securities
- Enforcement Agency
- Non-Governmental
- Contracting Party
- None
- Court Type
- Civil
- Disposition
- Settlement
- Date of Complaint
- 6/2/2011