January 11, 1999 Ingersoll Rand Corporation

Clark Equipment Company, a subsidiary of Ingersoll Rand Corporation has agreed to pay $3 Million Dollars to settle claims asserted in a qui tam action filed by Steven Falck, a former employee of Clark. The allegations of the case were that the company failed to provide accurate pricing information to GSA contract negotiators on two contracts for the purchase of “Bobcat” brand earth-moving equipment, and that as a result, federal agencies purchasing the equipment were overcharged.

As part of the settlement, Mr. Falck will receive over $500,000 for having filed the qui tam case.

See U.S. Dept of Justice Press Release 1/11/99

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