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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…
Ramsey et al. v. Philips North America (ERISA Lawsuit)
Philips North America paid $17 million to settle a lawsuit filed by participants in the company’s 401(k) plan who alleged the company breached its duties under Employee Retirement Income Security Act of 1974 (ERISA) by causing the plan to pay unreasonable investment management and administrative fees and selecting investments that performed poorly.
- Misconduct Type
- Securities
- Enforcement Agency
- Non-Governmental
- Contracting Party
- None
- Court Type
- Civil
- Disposition
- Settlement
- Date of Settlement
- 5/11/2018
| Contractors Involved |
Penalty |
| Total |
|
| Philips |
$17,000,000
|
