FDIC Beats Protest Over $12M Accounting Contract Award

Law360, New York (August 12, 2013, 6:01 PM EDT) -- The U.S. Court of Federal Claims on Monday tossed a post-award bid protest by Cohen Financial Services Inc. over a $11.5 million contract awarded to Mir Mitchell & Co. for accounting and other services, finding the Federal Deposit Insurance Corp. had properly evaluated the bidders' prices.

Cohen claimed the FDIC hadn't properly assessed costs when it accepted MMC's proposed $11.5 million price for a contract that averaged $18.1 million among other bidders and that the Independent Government Cost Estimate pegged at $16.9 million. The court found,...
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