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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…
Municipal Derivatives Antitrust Litigation
General Electric agreed to pay $18.25 million to settle a class action investors’ lawsuit accusing the company’s finance units of conspiring to artificially fix prices for municipal securities. The lawsuit concerned the sale of municipal derivative transactions in the United States from January 1, 1992 through August 18, 2011. The lawsuit alleged that bid-rigging by GE units GE Funding Capital Market Services, Trinity Funding Co., and Trinity Plus Funding Co. (along with several other companies) violated antitrust law and caused consumers to receive lower interest rates. See related General Electric instances, “Anticompetitive Conduct in the Municipal Bond Investments Market (Non-Prosecution Agreement)” and “Anticompetitive Conduct in the Municipal Bond Investments Market (SEC Settlement)”.
- Misconduct Type
- Antitrust
- Enforcement Agency
- Non-Governmental
- Contracting Party
- None
- Court Type
- Civil
- Disposition
- Settlement
- Date of Settlement Agreement
- 12/6/2013