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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…

Textron ERISA Litigation

A class-action lawsuit was filed by participants in a retirement plan sponsored by Textron. The plaintiffs invoke the Employee Retirement Income Security Act of 1974 (ERISA) in asserting breach of fiduciary duty claims against Textron, the committee that oversaw administration of the plan, and several individuals who were members of the committee during the class period. They claim the defendants made misstatements about Textron’s financial condition, failed to disclose material adverse information about the company, and allowed class members to make what the defendants knew or should have known were imprudent investments in the Textron Stock Fund. In September 2011, the court dismissed plaintiffs’ misstatements claim.

Misconduct Type
Securities
Enforcement Agency
Non-Governmental
Contracting Party
None
Court Type
Civil
Disposition
Pending
Date of Court Ruling
9/6/2011
Contractors Involved Penalty
Total
Textron, Inc. $0
Further Information Released
Ruling on Motion to Dismiss 9/14/2011

Federal Contractor Misconduct Database