June 13, 2014

In The News Today – June 13, 2014

The Michigan Supreme Court this week “nixed” a state false claim lawsuit against several pharmacy companies, which claimed that the companies “overcharged Medicaid“ for generic prescription drugs. The Court determined that the complaint “couldn’t show that any of the pharmacies had actually overcharged Medicaid when they dispensed generic drugs for prescriptions.” (Law360)

A study of FCPA enforcement conducted by the Searle Civil Justice Institute “found public companies lost an average of 2.9 percent of market capitalization as a result of an FCPA investigation.” Companies facing FCPA enforcement dropped a cumulative average of 2.7 percent in value, whereas the companies facing both FCPA and “fraud charges” dropped a total average of 54.9 percent, the study found. (FCPA Blog)

Two Ohio lawmakers plan to introduce legislation that would place “limits on campaign contributions from law firms seeking special contracts from the attorney general’s office.” They hope to have discussions with Attorney General Mike DeWine “in coming weeks and months to develop a final bill.” (Aurora Advocate)

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