- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2022-03-08T19:23:00
Pharmaceutical company Mallinckrodt agreed to pay approximately $260 million as part of a settlement announced by the Department of Justice for underpaying Medicaid rebates and violating kickback laws regarding its drug Acthar.
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Pharmaceutical company Mallinckrodt, fresh out of its second bankruptcy, was spared having to pay a $40 million penalty levied by the Securities and Exchange Commission for alleged disclosure and accounting failures related to its underpaying of Medicaid rebates.
Drug manufacturer Akorn Operating Company agreed to pay $7.9 million in a settlement with the Department of Justice for continuing to sell three drugs through Medicare when they were no longer covered under the program.
Essilor, a manufacturer and distributor of optical lenses and equipment, will pay $22 million to settle allegations it paid kickbacks to spur sales in violation of the False Claims Act.
USAA Federal Savings Bank has been hit with its third cease and desist order from the Treasury Department’s Office of the Comptroller of the Currency in the past five years for failing to correct unsafe and unsound banking practices.
Becton Dickinson medical device company will pay $175 million for “repeatedly” misleading investors about its Alaris infusion pump, a product the company knew was flawed and was sold without the required patient-safety approvals, the Securities and Exchange Commission said.
The Securities and Exchange Commission charged bankrupt fashion retailer Express with failing to disclose nearly $1 million in perks to a former chief executive, but did not levy a financial penalty thanks to its cooperation, the SEC said.
