Gene testing firm gets 25-year ban in $42.6 million kickback settlement

Gene testing firm gets 25-year ban in $42.6 million kickback settlement
(Reuters) – A New Orleans-based genetics testing company and its three principals will pay $42.6 million to resolve charges they defrauded the federal government by paying kickbacks for referrals and billing for medically unnecessary tests, the U.S. Department of Justice said on Wednesday. UTC Laboratories Inc, which has also been known as Renaissance RX or RenRX, also agreed to a... Read More

Judge opens door to PG&E wildfire victims, noteholders filing rival reorganization plan

Judge opens door to PG&E wildfire victims, noteholders filing rival reorganization plan
SAN FRANCISCO (Reuters) – The judge overseeing the bankruptcy of PG&E Corp (PCG.N) on Wednesday issued an order opening the door to a group of noteholders and wildfire victims to file their own reorganization plan for the California power provider. FILE PHOTO: A PG&E truck carrying an American Flag drives past PG&E repair trucks in Paradise, California, U.S. November 21,... Read More

Southwest, Gol ground 13 Boeing 737 NG airplanes after checks

Southwest, Gol ground 13 Boeing 737 NG airplanes after checks
WASHINGTON/SAO PAULO (Reuters) – Southwest Airlines Co (LUV.N) and Brazil’s Gol Linhas Aereas (GOLL4.SA) said on Wednesday they had grounded a total of 13 Boeing Co (BA.N) 737 NG airplanes after U.S. regulators ordered urgent inspections last week. FILE PHOTO: A traveler checks her baggage at the Southwest Airlines terminal at LAX airport in Los Angeles, California, U.S., January 24,... Read More

ProPetro reshuffles top executives during probe into accounting disclosures

ProPetro reshuffles top executives during probe into accounting disclosures
(Reuters) – Oilfield services firm ProPetro Holding Corp (PUMP.N) on Wednesday shuffled its top executives amid an internal investigation into equipment purchases and expense reimbursements. FILE PHOTO: A piece of equipment stands in the ProPetro yard before being sent to a fracking site where it will be used to coax oil from underground, in Midland, Texas, U.S., on April 12,... Read More

Massive jury award against J&J highlights risks of its legal strategy

Massive jury award against J&J highlights risks of its legal strategy
(Reuters) – A jury award that hit Johnson & Johnson (JNJ.N) with $8 billion in punitive damages for a case involving its anti-psychotic drug Risperdal highlights the risks of the drugmaker’s all-or-nothing legal strategy, several legal experts told Reuters on Wednesday. The jury in a Philadelphia court awarded the $8 billion to a man who previously won $680,000 over his... Read More

U.S. says gene testing firm gets 25-year ban in $42.6 million kickback settlement

U.S. says gene testing firm gets 25-year ban in $42.6 million kickback settlement
(Reuters) – A New Orleans-based genetics testing company and its three principals will pay $42.6 million to resolve charges they defrauded the federal government by paying kickbacks for referrals and billing for medically unnecessary tests, the U.S. Department of Justice said on Wednesday. UTC Laboratories Inc, which has also been known as Renaissance RX or RenRX, also agreed to a... Read More

Judge opens door to PG&E noteholders filing their own reorganization plan

Judge opens door to PG&E noteholders filing their own reorganization plan
FILE PHOTO: A PG&E truck carrying an American Flag drives past PG&E repair trucks in Paradise, California, U.S. November 21, 2018. REUTERS/Elijah Nouvelage SAN FRANCISCO (Reuters) – The judge overseeing the bankruptcy of PG&E Corp (PCG.N) on Wednesday issued an order opening the door to a group of noteholders to file their own reorganization plan for the California power provider.... Read More