MISSORI GETS $440,000 JUDGMENT AGAINST OFFICE DEPOT

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MISSORI GETS $440,000 JUDGMENT AGAINST OFFICE DEPOT

 user 2010-05-10 at 9:27:35 am Views: 48
  • #23412

    http://www.bizjournals.com/stlouis/stories/2010/04/26/daily70.html
    MISSORI GETS $440,000 JUDGMENT AGAINST OFFICE DEPOT
    A consent judgment issued Friday requires Office Depot to pay $440,000 to settle allegations that the company had violated Missouri’s Merchandising Practices Act, according to the state attorney general’s office.In February 2009, Attorney General Chris Koster launched a statewide probe into Office Depot over allegations of fraudulent pricing and overcharging on government contracts.Koster’s probe came as Office Depot (NYSE: ODP) faced civil investigations by a number of states and federal agencies regarding its pricing practices relating primarily to government customers. In a July 2009 regulatory filing, the company said at the time it was cooperating with the Florida, Texas, Missouri, Colorado, California and Ohio attorneys general with respect to such investigations.

    Friday’s judgment in St. Louis County Circuit Court calls for the Boca Raton, Fla.-based office products retailer to pay $320,000 in restitution and $120,000 to reimburse the state for the cost of the investigation.St. Louis County Circuit Judge Carolyn Whittington also issued a permanent injunction prohibiting Office Depot from violating the Missouri Merchandising Practice Act. A $100,000 penalty was suspended, providing the company complies with the terms of the judgment and permanent injunction