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BUSINESS LAW: CVS Pharmacy to settle $2 million for Unfair Competition Lawsuit

August 19, 2011

Los Angeles - Popular drugstore CVS Pharmacy was asked to pay more than $2 million for settling unfair competition lawsuit, reports said.

According to news reports, Los Angeles County Superior Court Judge Maureen Duffy-Lewis signed the final judgment that requires the drugstore to pay settlement for allegedly participating in misleading advertising.

In the lawsuit, the Rhode Island-based pharmacy was accused of frequently charging its costumers more than what the store’s advertised items’ prices.

Under the LA County Superior Court’s decision, CVS Pharmacy Inc. has to pay $1.2 million in civil penalties, $420,000 in investigative payments; $300,000 to the California Department of Measurement Standards, and $100,000 to the Consumer Protection Trust, reports said.

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