Tuesday, March 09, 2010
EMC Pays U.S. Government $87.5 Million to Settle Investigation
EMC Corp. has agreed to pay $87.5 million to settle a federal investigation into its pricing practices on sales to federal government agencies, although the company has not admitted any wrongdoing on its part.
The settlement ensures that EMC, which manufactures data storage equipment, will not be suspended or disbarred from selling products to the U.S. government, one of the world’s largest technology products buyers.
The investigation was conducted by the U.S. Justice Department and concerned allegations that EMC violated the terms of agreements through which it sold goods to the U.S government.
Included in the allegations was a potential violation of the False Claims Act, according to EMC’s filings with the U.S. Securities and Exchange Commission.
Click here to read the full article, “UPDATE 1-EMC agrees to pay $87.5 mln to settle U.S. probe”.
Posted by
Qui Tam Admin on 03/09 at 09:17 AM
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