Wednesday, April 13, 2011

Feds investigating some EMC practices - Silicon Valley / San Jose Business Journal:

http://suspceiling.leehoan.com/
The Hopkinton, Mass., information storagw company (NYSE: EMC) said in its annuakl report the allegations, which include potential violationsd to the FalseClaims Act, are in connection with an auditg by the . The audigt questioned EMC’s recordkeeping and pricing practices under a Novembe 1999 contract with the GeneralServiceds Administration. That contract expired in June 2007. EMC said it is cooperatingb with the Department of Justice and is discussiny a resolution that does not require the companyh to admit guilt or be held liablefor damages.
“We believe that we have meritorious factual and legaol defenses to the allegationsraisedd and, if the matter is not resolvef and proceeds to litigation, we intend to defend the company said in the filing. If EMC is found liable for damages, it said, it coulfd lose its ability to sell to thefederal

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