Medco Settles CalPERS Bribery Suit For $3M

Law360, New York (March 23, 2012, 10:30 PM EDT) -- Medco Health Solutions Inc. has agreed to pay almost $3 million to settle claims that it hired a consultant who bribed California Public Employees' Retirement System officials to win a pharmaceutical benefits contract, the California attorney general announced Friday.

In addition to a $2.75 million payment for attorneys' fees, Medco agreed to change its internal procedures to ensure problems do not occur again after the state's investigation into the company's employment of Alfred Villalobos, a former CalPERS board member whom Medco had hired as a consultant....
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