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Hospira, Inc. Agrees To $60 Million Settlement Over Quality Control Problems


3/28/2014 7:42:37 AM

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Hospira Inc has agreed to pay $60 million to resolve a class action lawsuit accusing the drug maker of misleading investors about quality control problems that undermined an initiative to improve the company's margins and operations. The settlement, disclosed in court papers filed on Thursday in federal district court in Chicago, would bring to an end a lawsuit that had dogged the company since November 2011. The company had previously indicated it had reached a deal to resolve the case, though financial terms had not previously been disclosed.

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