Chinese Vitamin Cos. To Pay $23M To Settle Price-Fixing Plot

Law360, Los Angeles (March 25, 2013, 8:42 PM EDT) -- Weisheng Pharmaceutical Company Ltd. and its parent, China Pharmaceutical Group Ltd., agreed to pay $22.5 million and comply with any injunction issued against any co-defendant to settle price-fixing claims for vitamin C after dropping out of a class-action trial in New York federal court that walloped their co-defendants with a $54.1 million penalty.

Plaintiffs’ counsel asked the court to approve a settlement agreement by which Weisheng and CPG will pay $22.5 million to settle the claims of a direct-purchaser damages class and comply with any injunction...
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