Cochlear: Settles With US Government; To Pay US$950,000
04 June 2010 - 10:35AM
Dow Jones News
Cochlear Ltd. (COH.AU) said Friday its subsidiary Cochlear
Americas has resolved a long-running case with the U.S. government
by agreeing to pay a settlement of US$950,000.
"Cochlear Americas specifically disputes and denies the factual
and legal allegations in relation to sales programs and other
conduct alleged to have occurred from 1998 to 2003 in the USA," the
company said in a statement.
Cochlear said it agreed to the settlement to avoid ongoing legal
fees, and the uncertainty and expense of litigation.
-By Neil Sands, Dow Jones Newswires; 61-3-9292-2095;
neil.sands@dowjones.com
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