News

Settlement Agreements

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United Airlines agreed to pay $49.5 million to resolve criminal charges and civil claims relating to fraud on postal service contracts for transportation of international mail, the U.S. Justice Department said Friday.


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Consulting firm McKinsey & Co has agreed to pay at least $573 million to resolve claims by 40-plus U.S. states related to its role in the opioid epidemic and advice it gave to OxyContin maker Purdue Pharma, according to a person familiar with the matter.

The settlement is with 43 states, the District of Columbia and three territories, the person said on Wednesday. Several attorneys general said they planned announcements on the opioid epidemic on Thursday.


Kimberly Redmond | Equities.com |

Following an investigation into salary and hiring practices, Alphabet Inc's (Nasdaq: GOOGL) Google LLC will pay $2.6 million to more than 5,500 employees and past job applicants to resolve allegations that the tech giant discriminated against females and Asians.

The settlement, announced Monday, closes a 4-year-old case that the U.S. Department of Labor filed as part of its periodic reviews of pay practices of federal government contractors like Google.


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Pilgrim’s Pride Corp and Tyson Foods Inc said on Monday they have settled price-fixing litigation by a group of poultry buyers that accused them of violating U.S. antitrust law by conspiring to inflate chicken prices.

Pilgrim’s Pride, owned mainly by Brazil’s JBS SA, will pay $75 million to settle claims by purchasers that bought chickens directly from the company. The size of Tyson’s settlement with the same purchasers was not disclosed.

Neither company admitted liability, and both said settling was in their best interests.

Both settlements require approval by a federal judge in Chicago.


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Deutsche Bank AG will pay nearly $125 million to avoid U.S. prosecution on charges it engaged in foreign bribery schemes and manipulated precious metals markets, the latest blow for the bank as it tries to rebound from a series of scandals.

Germany’s largest lender agreed to the payout as it entered a three-year deferred prosecution agreement with the U.S. Department of Justice, and a related civil settlement with the U.S. Securities and Exchange Commission.

Almost all of the payout relates to charges Deutsche Bank violated the federal Foreign Corrupt Practices Act (FCPA) over its dealings in Saudi Arabia, Abu Dhabi, China and Italy, court papers show. Nearly two-thirds of the payout is a criminal fine.


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Boeing Co will pay over $2.5 billion to resolve the U.S. Justice Department’s investigation into two deadly 737 MAX crashes that killed 346 people, the Justice Department said, but will not be forced to plead guilty to criminal charges.

The Justice Department said the settlement includes a criminal monetary penalty of $243.6 million, compensation payments to Boeing’s 737 MAX airline customers of $1.77 billion, and the establishment of a $500 million crash-victim beneficiaries fund to compensate the heirs, relatives, and legal beneficiaries of the passengers.


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Daimler AG’s North American truck unit on Thursday agreed to a $30 million U.S. civil penalty to resolve an investigation of delayed recalls, the second time since late 2019 the German automaker has agreed to settle a probe by U.S. auto safety regulators.

The National Highway Traffic Safety Administration (NHTSA) said Daimler Trucks North America failed to recall vehicles in a timely fashion and comply with reporting requirements after the agency opened a probe in April 2018 of about 464,000 vehicles.

As part of the settlement, Daimler Trucks agreed to develop and implement an advanced data analytics program to enhance its ability to detect and to investigate potential safety defects as part of a two-year consent order that can be extended by NHTSA for one additional year.


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Popular online brokerage Robinhood has agreed to pay a $65 million fine to settle charges that it misled customers, the U.S. Securities and Exchange Commission said on Thursday.

The day before, a Massachusetts securities regulator accused here the firm of engaging in aggressive tactics to attract inexperienced investors and failing to prevent outages on its trading platform.

The SEC charged the company with failing to inform customers about payments it received from trading firms to route customer orders through them, a move that resulted in customers paying higher prices to execute trades.


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The U.S. Securities and Exchange Commission said on Wednesday that General Electric Co has agreed to pay a $200 million penalty to settle charges for misleading investors over how it was generating earnings in its power and insurance businesses.

In 2017 and 2018, the company’s stock price fell almost 75% as challenges in its power and insurance businesses were disclosed to the public, the SEC said.