Federal technology contractor GTSI Corp.'s fourth-quarter 2011 revenues declined 43 percent compared to the fourth quarter of 2010, GTSI said Thursday, attributing the steep reduction to staff turnover and turmoil resulting from a suspension by the Small Business Administration.
Lockheed Martin Corp. has settled a suit brought by subcontractor Triumph Aerostructures LLC alleging the defense giant refused to fairly negotiate a $9 million price adjustment on a fighter jet contract, according to papers filed Thursday in Texas federal court.
The U.S. Securities and Exchange Commission's inspector general on Wednesday found the agency had inappropriately awarded several sole-source contracts, in an audit conducted after the SEC awarded a $556 million sole-source lease for office space it didn't need.
The U.S. Department of Defense unveiled a final rule on Thursday that lowered the monetary threshold required to trigger the peer review of noncompetitive procurements from $1 billion to $500 million.
A disgraced eye surgeon who bilked health insurers and Medicare in a multimillion-dollar scheme while head of ophthalmology at the Temple University School of Medicine must serve 87 months in prison and pay $1 million in restitution, a Pennsylvania federal judge ruled Thursday.
Conservative groups have asked the U.S. Supreme Court to overturn a New York law limiting campaign contributions by city contractors and lobbyists, contending in a petition obtained Thursday by Law360 that the statute conflicts with the high court's Citizens United ruling.
Novartis Pharmaceuticals Corp. has struck a $2.75 million settlement with Kentucky over allegations that the drugmaker defrauded the state's Medicaid program by publishing false and inflated average wholesale prices for its drugs, the state's attorney general announced Wednesday.
The government must cut its spending on contractors and find better ways to gauge whether contractors or federal workers would be more cost-effective for roles commonly performed under services contracts, lawmakers said at a Senate hearing Thursday.
A Colorado county on Wednesday won the dismissal of JetAway Aviation LLC's antitrust suit accusing county commissioners of conspiring to grant another contractor a monopoly on support services at the local airport.
A total of seven people pled guilty Wednesday in California to taking part in a widespread fraud and corruption case in which the Department of Defense paid more than $6 million in fraudulent defense contracts that netted U.S. Navy officials more than $1 million in bribes.
A Michigan federal judge on Wednesday sentenced a former U.S. Postal Service supervisor to 90 days in prison for his role in a six-year scheme that handed out $13 million worth of post office maintenance contracts in exchange for bribes.
Michigan federal prosecutors unveiled a new indictment Tuesday for five people scheduled to face trial in June, accused of participating in a $14.5 million Medicare fraud scheme involving kickbacks to patients and bogus physical therapy services.
The federal government should give the oft-criticized Defense Contract Audit Agency more resources to strengthen auditing of contractors, including more money to hire skilled staff and additional authority to subpoena contractor records, according to a Center for American Progress report released Wednesday.
Universal Health Services Inc. and two subsidiaries will pay $6.85 million to the U.S. and Virginia governments to settle allegations they provided teenagers substandard psychiatric care at a now-defunct residential treatment center and submitted inaccurate Medicaid claims, officials announced Wednesday.
Vedder Price LLP announced Wednesday it was creating a government contracts practice, bringing in two heavyweights from Seyfarth Shaw LLP and Winston & Strawn LLP to get the group off the ground in Washington.
The U.S. Department of Defense's new focus on energy security and efficiency could lead to commercially viable advancements in renewable energy technology, especially if the Department of Energy can emulate the DOD's successes in working closely with contractors and researchers, according to a Wednesday report funded by the Bipartisan Policy Center.
Generic-drug maker Cypress Pharmaceutical Inc. reached a $2.8 million deal with the U.S. Department of Justice to settle a False Claims Act whistleblower case alleging the company and its subsidiary sold medications to the government that were not approved by the U.S. Food and Drug Administration, the DOJ announced Wednesday.
A U.S. Department of Defense official who pled guilty to taking nearly $100,000 in bribes from an Afghanistan contractor was sentenced Wednesday in Georgia federal court to 20 months in prison.
Sens. John McCain, R-Ariz., and Joe Lieberman, I-Conn., each made arguments for their competing cybersecurity bills during a Tuesday military budget hearing, trading barbs over Lieberman's proposal to regulate the security of privately owned critical infrastructure through the U.S. Department of Homeland Security.
A New York state judge declined Monday to dismiss commercial real estate lender Ciena Capital LLC's suit against two XL Group PLC insurers over a $26 million False Claims Act settlement with the federal government.