Lilly Considers $1 Billion Fine to Settle Case
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The fine would settle a civil and criminal investigation into the companyâs marketing of an antipsychotic drug.
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California and 10 local prosecutors have reached a $1 million settlement with diet-pill maker Nutraquest Inc., which was accused of using deceptive techniques to sell weight-loss products that contained ephedra.
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The Pritzker family feud may be near a settlement with two young heirs set to split a $1 billion payment to drop their suit against their father and fellow-heirs, a published report said on Wednesday.
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US drugs giant Merck is to be fined an initial $20m in after losing a case brought by a user of its Vioxx painkiller.
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The company says it is discussing a settlement with the Justice Department.
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Payment to resolve allegations pharmaceutical firm overcharged government for top drugs.
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Merck has agreed to pay $650 million to resolve allegations that it overcharged state and federal governments for three top-selling drugs, marking one of the Justice Department's largest settlements ever in a healthcare fraud prosecution.
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Fremont Investment Advisors of San Francisco has agreed to pay $2.1 million in restitution and $2 million in civil penalties to end a mutual fund timing case, New York Attorney General Eliot Spitzer announced Thursday.
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IBM on Wednesday said it has settled portions of an ongoing lawsuit related to its pension plan and said the potential liability for the other claims that remain on appeal is capped at $1.
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The attorney general of Oregon, Hardy Myers, has proposed a $36 million nationwide settlement among the pharmaceutical manufacturer Organon USA, consumers and states over the antidepressant drug Remeron.
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German microchip giant Infineon Technologies agreed to plead guilty and to pay a 160 million dollar fine for participating in &quot;an international conspiracy to fix prices,&quot; US officials said.
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German microchip maker, Infineon Technologies, has been fined $160m in the US after pleading guilty to price fixing.
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The Bayer Corporation, a subsidiary of the Bayer Group of Germany, has agreed to plead guilty and pay a $33 million criminal fine for taking part in a conspiracy
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WASHINGTON : German microchip giant Infineon Technologies agreed to plead guilty and to pay a 160 million dollar fine for participating in &quot;an international conspiracy to fix prices&quot; US officials said.
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The Schering-Plough Corporation has agreed to pay $435 million and plead guilty to conspiracy to settle charges of marketing drugs for unapproved uses and overcharging Medicaid.
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WASHINGTON -- German chipmaker Infineon (Quote, Chart) has agreed to plead guilty and pay a $160 million fine for participating in what the Department of Justice (DOJ) calls an international price-fixing conspiracy in the memory chip market.
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Alcatel-Lucent has agreed to pay $2.5 million in fines to resolve allegations that it provided Chinese government officials with free trips to Disneyland and other tourist attractions.The company has to pay $1 million to resolve U.S. Department of Justice charges that it violated the Foreign Corrupt Practices Act (FCPA) when providing travel and other perks to Chinese government officials, the DOJ said Friday. The company also agreed to pay a $1.5 million civil fine to the U.S. Securities and Exchange Commission.The agreement with the DOJ wraps up a multiyear investigation into whether Lucent, before its November 2006 merger with Alcatel, provided things of value to the Chinese officials and improperly accounted for the expenses.The company cooperated fully with the DOJ and SEC investigations, an Alcatel-Lucent spokeswoman said. The company is &quot;glad to put the matter behind us&quot; and looks forward to successful business dealings in China in the future, she said.From about 2000 to 2003, Lucent spent millions of dollars on more than 300 trips for Chinese government officials that included sightseeing, entertainment and leisure, the DOJ said. The trips were approved by senior Lucent Chinese officials, with the support of Lucent employees in the U.S.Lucent improperly recorded expenses for these trips and failed to implement internal controls to monitor the provision of travel and other things of value to Chinese officials, the DOJ said in a press release.In 2002 and 2003, there were 24 Lucent-sponsored trips for Chinese government customers, and at least 12 trips were primarily for sightseeing, the DOJ said. The people participating in these trips were senior government officials, including the heads of state-owned telecommunications companies in Beijing and the leaders of provincial telecommunications subsidiaries.Between 2000 and 2003, Lucent provided Chinese government officials with trips to the U.S., Europe, Australia and elsewhere that were often characterized as &quot;factory inspections&quot; or &quot;training,&quot; the DOJ said. By 2001, Lucent had outsourced most of its manufacturing and no longer owned factories for its customers to tour. These trips were primarily sightseeing tours to locations such as Disneyland, Universal Studios and the Grand Canyon, and typically lasted 14 days and cost between $25,000 and $55,000 per trip, the DOJ said.Lucent admits to all of this conduct in the agreement announced on Friday. The agreement also requires Lucent to adopt new or modify existing internal controls, policies and procedures. Those internal controls must ensure that Lucent keeps fair and accurate books, the DOJ said. The agency has agreed not to prosecute Lucent if it complies with all of the requirements in the agreement over a two-year term.