Beware Of GSA’s Price Reductions Clause

Law360, New York (March 1, 2011, 12:20 PM EST) -- On Jan. 13, 2011, the U.S. Department of Justice announced that it had reached a $6.25 million settlement with Fastenal Company, a national hardware store distributor, following an investigation of alleged false claims in connection with a General Services Administration (GSA) contract.

The alleged false claims related to a 2000 GSA multiple award schedules (MAS) contract that Fastenal had entered to sell its hardware products to government agencies using GSA MAS.

The subject contract terminated in 2005. In 2006, a post-contract audit completed by the GSA...
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