IRON MOUNTAIN INC
IRM
Real Estate
1
exclusion reason
1 theme
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Iron Mountain paid $44.5M (December 2014) to settle False Claims Act allegations that it systematically overcharged federal agencies for record-storage services under GSA contracts from 2001-2014. The company failed to provide GSA with accurate commercial pricing during negotiations, did not offer required lower government rates, and charged for storage that failed to meet National Archives standards. A whistleblower lawsuit filed by former employee Brent Stanley and Patrick McKillop exposed the fraud; they received $8M+ from the recovery. Iron Mountain also paid $1.57M to California and San Bernardino/Santa Clara counties for parallel state false claims.
Research Sources
3 organizations
Related Exclusions
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The Naughty List
A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.