ID protection provider settles with AGs

By Geert De Lombaerde Posted on March 10, 2010 at 10:48 am

Tennessee will receive its share of $12 million in penalties and costs that identity protection provider Lifelock will pay to settle charges of misleading advertising.

“There are no guarantees that any company can protect consumers from identity theft,” said Attorney General Bob Cooper, whose office served in a leadership position. “In truth, most people can monitor and safeguard their own private information at no cost better than a company selling so‐called ‘proven’ protection can.”

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Tags: advertising and marketing, Attorney General, Federal Trade Commission, governmental investigations, identity theft, LifeLock Inc.  

Concerns over a $300 million contract

By Erin Lawley Posted on January 25, 2010 at 11:27 am

Andy Sher reported Friday on concerns raised by two groups about CVS Caremark’s bid for Tennessee’s $300 million contract for managing state employees’ drug benefits. The pharmacy benefits manager, which is among four companies seeking the contract, has suffered contract losses, client lawsuits and an FTC investigation into its practices.

Tennessee Citizen Action and Change to Win are asking the state to emphasize transparency and accountability in awarding the contract.

“This contract provides a clear opportunity for the state to save money and enhance oversight of health care expenditures,” Citizen Action executive director Tom Peters said. “CVS Caremark has a track record that raises questions about whether it will provide the transparent and cost-effective services taxpayers deserve.”

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Tags: Change to Win, CVS Caremark Corp., Federal Trade Commission, pharmacy benefit management, state contracts, Tennessee Citizen Action, Tom Peters  

Group targeting CVS Caremark ‘optimistic’

By Walker Duncan Posted on May 13, 2009 at 5:16 pm

A group of independent pharmacists says it is “cautiously optimistic” following a meeting with the Federal Trade Commission.

The National Community Pharmacists Association has for months been pressuring the commission to investigate CVS Caremark over claims that the company engages in anticompetitive practices. The group also seeks to reopen the 2007 merger that formed the joint company.

Further details here.

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Tags: CVS Caremark Corp., Federal Trade Commission, National Community Pharmacists Association, pharmacy benefit management, retail pharmacies