Shareholders filed a securities class action against the pharmaceuticals company and certain of its officers. King Pharmaceuticals was charged with violating securities laws in connection with the company's underpayment of rebates owed to Medicaid and other government programs. As a result of these misrepresentations, the company's stock price was artificially inflated during the class period, which resulted in losses to investors. King Pharmaceuticals has agreed to a $38 million class action settlement. (Aug-04-06)
[MARKET WATCH]
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