BOSTON--(BUSINESS WIRE)--
Iron Mountain® Incorporated (NYSE: IRM), the storage and
information management firm, today announced that it has reached a
settlement agreement with the U.S. Department of Justice (DOJ) to
resolve a civil complaint regarding pricing issues associated with
Records Management, Data Management and Secure Shredding services that
the company provided under U.S. General Services Administration (GSA)
Multiple Award Schedule contracts. Under the agreement, Iron Mountain
will pay $44.5 million to resolve all GSA pricing issues.
Iron Mountain proactively self-reported pricing issues to the GSA before
the civil complaint was filed, and worked cooperatively with the GSA and
the DOJ to come to a resolution. The company continues to serve the
Federal government and is committed to ensuring compliance with GSA
Schedule contracts.
“We worked collaboratively with both the GSA and Department of Justice
during the course of their investigation of the GSA-pricing issues,
fully cooperating with them at every stage,” said Ernest Cloutier, the
company’s Executive Vice President of U.S. Federal, Security and Legal.
“We are pleased to have reached this resolution and put the matter
behind us, and we look forward to continuing to support our Federal
government customers.”
Iron Mountain has maintained a deferred revenue liability based on an
estimate of the GSA pricing adjustment and, as a result of this
settlement, there will be no material impact to its statement of
operations in the fourth quarter of 2014.
The company simultaneously agreed to small settlements with certain
State of California entities.
About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM) is a leading provider of storage
and information management services. The company’s real estate network
of over 67 million square feet across more than 1,000 facilities in 36
countries allows it to serve customers around the world. And its
solutions for records
management, data
management, document
management, data center management and secure
shredding help organizations to lower storage costs, comply with
regulations, recover from disaster, and better use their information .
Founded in 1951, Iron Mountain stores and protects billions of
information assets, including business documents, backup tapes,
electronic files and medical data. Visit www.ironmountain.com
for more information.
Source: Iron Mountain Incorporated