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Quest Diagnostics Settles Federal Investigation for $302 Million
This is a settlement for the Whistleblower lawsuit.
Quest Diagnostics has reached a $302 million settlement which will resolve criminal and civil allegations regarding some of its diagnostic test kits manufactured and sold up to 2006.
The federal investigation was initiated based on branding and false claims allegations made by a whistleblower, who subsequently received nearly $45 million as settlement of the whistleblower lawsuit. It was one of the largest recoveries in a medical devices case.
The terms of the $302 million settlement by Quest Diagnostics and its Nichols Institute Diagnostics (NID) unit are that the 2 entities will pay $262 million plus interest to resolve federal False Claims Act allegations pertaining to diagnostic tests manufactured by NID that allegedly provided inaccurate and unreliable results.
Additionally, NID will pay a $40 million fine having now pled guilty to felony misbranding regarding its test used to measure parathyroid hormone levels.
APRIL-16-09: Quest Settles Probe Into Test-Kit Lapses [WALL STREET JOURNAL: QUEST SETTLES PROBE INTO TEST KIT LAPSES]
Published on Apr-16-09
The federal investigation was initiated based on branding and false claims allegations made by a whistleblower, who subsequently received nearly $45 million as settlement of the whistleblower lawsuit. It was one of the largest recoveries in a medical devices case.
The terms of the $302 million settlement by Quest Diagnostics and its Nichols Institute Diagnostics (NID) unit are that the 2 entities will pay $262 million plus interest to resolve federal False Claims Act allegations pertaining to diagnostic tests manufactured by NID that allegedly provided inaccurate and unreliable results.
Additionally, NID will pay a $40 million fine having now pled guilty to felony misbranding regarding its test used to measure parathyroid hormone levels.
APRIL-16-09: Quest Settles Probe Into Test-Kit Lapses [WALL STREET JOURNAL: QUEST SETTLES PROBE INTO TEST KIT LAPSES]
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