Penney's Eckerd Drug Unit Settles Civil Case
J.C. Penney's (JCP) Eckerd drugstore unit on Friday announced it has settled a 1995 civil case with the federal government and 18 states over the handling of partially filled prescriptions.
Eckerd will pay $9 million to the federal government and the 18 states in which it did business from 1986 to 2000.
The civil agreement was first announced last year, when an affiliate of Eckerd's ECK MD entered into a separate agreement with the federal government to resolve a criminal investigation involving partially filled prescriptions. The ECK MD agreement has been approved by a U.S. District Court in Florida.
"As other recent announcements indicate, this is an industrywide issue and one that Eckerd already addressed a number of years ago," said Robert E. Lewis, Eckerd's general counsel. "We chose to settle these cases and put them behind us to avoid the associated disruption to our business and substantial legal expenses."
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV