EDS financial probe deepens
The U.S. Securities and Exchange Commission has widened its probe of Electronic Data Systems to include a massive charge the company took related to its $6 billion Navy contract
Company
Fined for Medicaid Fraud
/0 Comments/in AstraZeneca /by ceadminFlorida’s Medicaid program will receive $807,826 from pharmaceutical company AstraZeneca as a result of a settlement with the attorney general.
Attorney General Charlie Crist says the company committed Medicaid fraud through the marketing and sale of the drug Zoladex for use in the treatment of prostate cancer.
Crist says AstraZeneca overcharged Medicaid for Zoladex by not including promotions, free goods, discounts, rebates and other reductions in the price paid by Medicaid
$1bn Lawsuit
/0 Comments/in Shell /by ceadminShell could be facing a $1bn damages bill after it admitted overestimating oil reserves, according to a US lawyer.
Robert Schulman, who is launching a legal action on behalf of Shell investors, has told the BBC he thinks they have a “very good case”.
The oil giant admitted earlier this month that it had overstated its proven reserves by 20%
EU Anti Competition Investigation
/0 Comments/in Microsoft Corporation /by ceadminMicrosoft could soon be facing multi- billion euro fines and other sanctions for breaking European competition law.
The European Commission has finished drafting its decision in the case it brought against the software giant.
The Commission is likely to decide that the firm illegally tied audio and video software, as well as server systems, to its Windows operating system
Audit states debt now 14.3 Billion Euros
/0 Comments/in Parmalat /by ceadminRome – A recent audit of Parmalat had found that its net debt was 14.3 billion (R130 billion), nearly eight times more than the figure it had reported months before the huge fraud scandal erupted, the dairy conglomerate said yesterday.
The fresh audit, ordered by a court-appointed administrator to discover what Parmalat’s true book-keeping showed, found that net debt for the nine-month period to September 30 stood at 14
GlaxoSmithKline: $11.1 Million settlement
/0 Comments/in GlaxoSmithKline /by ceadminPennsylvania Attorney General Pappert Recovers $11.1 Million for PA Medicaid Program in Settlements With Bayer and GlaxoSmithKline Over Allegations of Prescription Drug Pricing Fraud
HARRISBURG, Pa., Jan
Bayer: $11.1 Million settlement
/0 Comments/in Bayer /by ceadminPennsylvania Attorney General Pappert Recovers $11.1 Million for PA Medicaid Program in Settlements With Bayer and GlaxoSmithKline Over Allegations of Prescription Drug Pricing Fraud
HARRISBURG, Pa., Jan
Rumsfeld orders wider probe of Boeing tanker deal
/0 Comments/in Boeing /by ceadminWASHINGTON (Reuters) – Defense Secretary Donald Rumsfeld has ordered the Pentagon’s in-house watchdog to expand its investigation into the Boeing Co. tanker deal to see if a former Air Force acquisition official’s job search affected other contracts, officials said Tuesday.
Rumsfeld also asked Pentagon General Counsel Jim Haynes, the chief ethics officer, to review rules aimed at preventing abuses when top officials seek jobs in the defense industry after they leave the government, a Pentagon spokeswoman said
Indian parliament bans Coke from Cafeteria
/0 Comments/in Coca Cola /by ceadminThe Indian parliament has banned the sale of Coke and Pepsi products in its cafeteria. Indian parliamentarians should take the logical next step, and ban the sale of Coke and Pepsi products in the entire country.
The ban came as the result of tests, including those by the Indian government, which found high concentrations of pesticides and insecticides, including lindane, DDT, malathion and chlorpyrifos, in the colas, making them unfit for consumption
Indian parliament bans Pepsi from Cafeteria
/0 Comments/in Pepsi /by ceadminThe Indian parliament has banned the sale of Coke and Pepsi products in its cafeteria. Indian parliamentarians should take the logical next step, and ban the sale of Coke and Pepsi products in the entire country.
The ban came as the result of tests, including those by the Indian government, which found high concentrations of pesticides and insecticides, including lindane, DDT, malathion and chlorpyrifos, in the colas, making them unfit for consumption