SAC Capital Agrees to Plead Guilty to Insider Trading - NYTimes.com
"... federal prosecutors announced that Mr. Cohen’s firm, SAC Capital Advisors, had agreed to plead guilty to insider trading violations and pay a record $1.2 billion penalty, becoming the first large Wall Street firm in a generation to confess to criminal conduct. The government has also forced SAC to terminate its business of managing money for outside investors.
Insider trading at SAC was “substantial, pervasive and on a scale without precedent in the history of hedge funds,” said Preet Bharara, the United States attorney in Manhattan. His office has criminally charged eight former SAC employees; six have pleaded guilty."
Monday, November 04, 2013
Johnson & Johnson to pay $2.2 billion in Risperdal settlement - The Economic Times
Johnson & Johnson to pay $2.2 billion in Risperdal settlement - The Economic Times
"Johnson & Johnson has agreed to pay more than $2.2 billion in criminal and civil fines to settle accusations that it improperly promoted the antipsychotic drug Risperdal to older adults, children and people with developmental disabilities, the Justice Department said on Monday.
The agreement is the third-largest pharmaceutical settlement in U.S. history and the largest in a string of recent cases involving the marketing of antipsychotic and anti-seizure drugs to older dementia patients. It is part of a decade-long effort by the federal government to hold the health care giant - and other pharmaceutical companies - accountable for illegally marketing the drugs as a way to control patients with dementia in nursing homes and children with certain behavioral disabilities, despite the health risks of the drugs. "
"Johnson & Johnson has agreed to pay more than $2.2 billion in criminal and civil fines to settle accusations that it improperly promoted the antipsychotic drug Risperdal to older adults, children and people with developmental disabilities, the Justice Department said on Monday.
The agreement is the third-largest pharmaceutical settlement in U.S. history and the largest in a string of recent cases involving the marketing of antipsychotic and anti-seizure drugs to older dementia patients. It is part of a decade-long effort by the federal government to hold the health care giant - and other pharmaceutical companies - accountable for illegally marketing the drugs as a way to control patients with dementia in nursing homes and children with certain behavioral disabilities, despite the health risks of the drugs. "
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