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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…

Hiding Sales Performance Problems of Arctic Cat

Textron paid $7.9 million to investors who accused the company of hiding sales performance problems with Arctic Cat, a snowmobile company Textron bought in 2017. The investors claimed Textron misled them about the integration, inventory, expected performance, and goodwill of Arctic Cat, leading to a stock drop of 11.25% and eliminating $1.8 billion from Textron’s market capitalization.

Misconduct Type
Securities
Enforcement Agency
Non-Governmental
Contracting Party
None
Court Type
Civil
Disposition
Settlement
Date of Settlement Announcement
8/23/2022
Contractors Involved Penalty
Total
Textron, Inc. $7,900,000
Further Information Released
Settlement Notice 8/23/2022
Second Amended Complaint 2/14/2020

Federal Contractor Misconduct Database