Court Splits Difference In Veridyne-DOT Contract Battle

Law360, New York (July 9, 2012, 9:31 PM EDT) -- A Court of Federal Claims on Friday assessed penalties on the Department of Transportation and contractor Veridyne Corp. in a messy contract fight, hitting the contractor with $2 million in False Claims Act damages related to a contract signed at an artificially low $3 million to qualify for a small business set-aside.

Veridyne and the DOT's Maritime Administration (MARAD) pushed through a $3 million shipping-support contract extension in 1998, just as Veridyne was set to graduate from the Small Business Administration's 8(a) program, which allows businesses...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.