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 9:28:11 am Views: 49
  • #23796
    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