EMC Shells Out $87.5M Over Kickback Scheme

Law360, New York (May 25, 2010, 1:05 PM EDT) -- EMC Corp. has forked over $87.5 million to the U.S. government to settle allegations that it misrepresented its commercial pricing practices and engaged in a kickback scheme designed to influence the government to purchase the information technology company's products.

The payout resolves a whistleblower lawsuit filed in the U.S. District Court for the Eastern District of Virginia accusing EMC of violating the False Claims Act and the federal Anti-Kickback Act, the U.S. Department of Justice said Tuesday.

Prosecutors alleged that the Hopkinton, Mass.-based company fraudulently induced...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.