Wednesday, July 11, 2012
GlaxoSmithKline agrees to $3 billion settlement with Justice Department
Posted by Linda H on 6:44:00 AM
The settlement will resolve criminal and civil liability from the company's unlawful promotion of certain prescription drugs. The company is to plead guilty to a three-count criminal information, including two counts of introducing misbranded antidepressant drugs Paxil and Wellbutrin to interstate commerce and one count of failing to report safety data about the diabetes drug Avandia to the FDA. The criminal complaints will total $1 billion. GSK will also pay $2 billion to resolve civil liabilities relating to Paxil, Wellbutrin and Avandia, as well as other drugs and also resolves allegations of pricing fraud.
U.S. Banks to Pay $125,000 to Many Hurt in Foreclosures
Posted by Linda H on 6:32:00 AM
U.S. banks including JPMorgan Chase & Co. (JPM) and Citigroup Inc. (C) will pay as much as $125,000 plus equity to individual customers most harmed by mishandled foreclosures in 2009 and 2010, according to a remediation plan released by federal regulators.“While we’ve made great strides since we took enforcement action against large mortgage servicers last year, much work is still ahead,” said Thomas Curry, U.S. comptroller of the currency, in a statement. This industry guidance “helps people who are considering requesting a free review to understand how they may be compensated for the financial injury they may have suffered,” he said.
Apple Needs to Make it in America
