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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…
Glasscock v. Serco (ERISA Class Action)
Serco paid $1.2 million to settle a class action lawsuit filed on behalf of roughly 30,000 current and former employees. The class claimed that Serco breached fiduciary duties under the Employee Retirement Income Security Act (ERISA) in its management of the company’s 401(k) retirement plan by failing to select prudent investment options, failing to monitor the investments in a prudent manner, and causing the plan to pay excessive amounts in management and administrative fees.
- Misconduct Type
- Securities
- Enforcement Agency
- Non-Governmental
- Contracting Party
- None
- Court Type
- Civil
- Disposition
- Settlement
- Date of Settlement
- 6/1/2021
| Contractors Involved |
Penalty |
| Total |
|
| Serco Group |
$1,200,000
|
