Alere (ALR) Affirms Receipt of DOJ Subpoena; Issues Commentary
Get Alerts ALR Hot Sheet
Join SI Premium – FREE
Alere Inc. (NYSE: ALR) announced that it received a U.S. Department of Justice subpoena addressed to Alere Toxicology Services, Inc. on July 1, 2016. The subpoena seeks records related to Medicare, Medicaid and Tricare billings dating back to 2010 for patient samples tested at the Company's Austin, Texas pain management laboratory. The Company is fully cooperating with the investigation.
For the first nine months of 2015, Medicare, Medicaid and Tricare billings at the Austin pain management laboratory accounted for significantly less than 1% of Alere's total revenues.
Alere believes the matters to which the subpoena relates are not material.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Starbucks (SBUX) announces several leadership changes
- Disney (DIS) Confirms Glass Lewis Recommends Shareholders Vote for Only its Director Nominees
- Daxor Corp. (DXR) CEO and President Michael Feldschuh Provides Corporate Update in Letter to Shareholders
Create E-mail Alert Related Categories
Corporate News, Hot Corp. News, Litigation, Trader TalkSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!