Corporate misconduct and corporate lawsuits abound. People often think about individuals injury claims as clogging the court docket and that the claims are for millions. These beliefs are not even close to reality. We must not forget that corporate greed and businesses suing business are major business issues that consume significant court and government time and involve massive amounts of money. For instance:
- Andarko Petroleum Corp. will pay $4 Billion to BP PLS to settle claims related to the Gulf of Mexico oil spill. Andarko owned 25% interest in the well.
- Johnson and Johnson Scios unit has agreed to pay an $85 Million fine and plead guilty to misbranding its heart drug Natrecor.
- Kentucky settled with pharmaceutical giant PFIZER regarding its illegal off label marketing of its urology drug Detrol.
- Oracle will pay more than $199.5 Million to the GSA regarding is overbilling the federal government over 9 years. This was done through the False Claims Act.
- And Citigroup is paying $285 Million to settle SEC Fraud charges. Goldman Sachs settled similar charges last year for $550 Million and JP Morgan chase paid $153 Million this year as well.
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