Generic Pharmaceutical Company Admits to Fixing Price of Widely Used Cholesterol Medication

DOJ

Apotex Corp. Agrees to Pay a $24.1 Million Criminal Penalty

Apotex Corp., a generic pharmaceutical company headquartered in Florida, was charged with fixing the price of the generic drug pravastatin, the Department of Justice announced today.  According to the one-count felony charge filed in the U.S. District Court for the Eastern District of Pennsylvania in Philadelphia, Apotex and other generic drug companies agreed to increase and maintain the price of pravastatin, a commonly prescribed cholesterol medication that lowers the risk of heart disease and stroke. read more »

CFTC Files Charges in $20 Million International Binary Options and Digital Asset Fraud Scheme

CFTC

The Commodity Futures Trading Commission today announced the filing of a multi-million dollar fraud action in the U.S. District Court for the Southern District of Florida, charging three individuals and three companies with fraudulently soliciting tens of millions of customers and prospective customers to open and fund off-exchange binary options and digital asset trading accounts. These accounts traded foreign exchange currency pairs, metals, and digital assets through websites operated by unregistered binary options and digital asset brokers. read more »

Consumer Lender Sets Aside $21.7 Million For Bribery Settlement

WALL STREET JOURNAL

World Acceptance Corp. will likely spend $21.7 million to resolve a bribery probe by the U.S. Securities and Exchange Commission, the company said on Thursday.

A consumer lender based in Greenville, S.C., World Acceptance said in announcing its fourth-quarter results that the sum represented the estimated cost of resolving an SEC investigation into the company’s compliance with the Foreign Corrupt Practices Act. read more »