The Department of Justice said Friday that it sued pharmacy giant Walgreens over allegedly dispensing millions of unlawful prescriptions. The DOJ said that Walgreens from August 2012 until the present “knowingly” filled those prescriptions, which “lacked a legitimate medical purpose, were not valid, and/or were not issued in the usual course of professional practice.” “This lawsuit seeks to hold Walgreens accountable for the many years that ...
American Express will pay a total of about $230 million to resolve federal wire fraud investigations, and to settle civil allegations of deceptive marketing, the company said Thursday. The tally includes more than $138 million as part of a non-prosecution agreement with the U.S. Attorney’s Office in Brooklyn, New York, related to allegations that American Express gave customers “inaccurate tax advice” ...
The Federal Trade Commission said Friday that it is suing PepsiCo for illegal price discrimination, alleging the food and beverage giant gave an unnamed retailer more favorable prices than its competition. Walmart is the unnamed retailer, people familiar with the matter told CNBC. The FTC alleges Pepsi violated the Robinson-Patman Act, which bars sellers from giving competing buyers different prices for the same “commodity” or ...
Asset management giant Vanguard has been fined more than $100 million to settle charges related to disclosures around target date investment funds, the Securities and Exchange Commission announced Friday. The alleged violations stem from a 2020 change where Vanguard lowered the minimum investment requirement for its institutional target date funds. The SEC order found that the change spurred redemptions as Vanguard customers ...
A group of high powered investors want to raise billions to form a new international basketball league, according to people familiar with the matter. The new organization would offer players equity, those people said. The investors aim to raise $5 billion for the league, which could serve as a rival to the NBA if it can offer big-money deals to players, similar ...
The U.S. Food and Drug Administration formally authorized Zyn nicotine pouches for sale after conducting an ‘extensive scientific review’ about their safety. In a release Thursday, the agency said it had found that the popular pouches posed lower risk of cancer and other serious health conditions compared with cigarettes, as well as in relation to other smokeless tobacco products. The ...
The CEO of UnitedHealth Group said Thursday that shortcomings of America’s health care system must be addressed. On the company’s first earnings call since the fatal shooting of UnitedHealth executive Brian Thompson, CEO Andrew Witty said that while the U.S. provides world-leading care in many respects, there are systemic flaws that are working to drive up health costs for people ...
An outage affecting Capital One customers dragged into its second day Friday, further preventing some customers from accessing deposits, payments and transfers. In an afternoon statement, the bank said it was still restoring systems that had been taken offline due to a technical issue with a third-party vendor. The vendor, Fidelity Information Services (FIS), based in Jacksonville, Florida, released a ...
Capital One said an unspecified technical issue was hampering customer account access, as some users reported issues with direct deposits. In response to complaints on social media platform X, a Capital One representative said the bank was experiencing a ‘tech outage’ that was affecting ‘a variety of functions,’ with no timetable for a restoration of services. Later on Thursday, the ...
Numerous Citibank customers reported receiving fraud alerts and having difficulty accessing their accounts Wednesday. According to DownDetector.com, which tracks reports of digital services interruptions, hundreds of Citibank users had flagged issues related to their accounts as of midday. The site indicated the interruptions had been occurring since at least 9 a.m. ET. Some customers reported on X that they received ...