• The Denver Business Journal reports that Kroger “got caught up in a multimillion-dollar tax fraud scheme that led it to claim $178 million in loss deductions, the U.S. Justice Department said.
“The disclosure was made Tuesday as a result of a guilty plea entered by an executive of a Reston, Va., investment firm that devised tax shelters for Cincinnati-based Kroger and other corporations.”
Kroger reportedly has settled with the IRS for an undisclosed amount.
• PBM Products,a private label baby formula manufacturer, reportedly has won $13.5 million in damages in a suit against Mead Johnson & Co., which it accused of false advertising. Mead Johnson made certain nutrition claims for its products that it said were exclusive to that brand, an assertion that PBM successfully challenged in court.
“The disclosure was made Tuesday as a result of a guilty plea entered by an executive of a Reston, Va., investment firm that devised tax shelters for Cincinnati-based Kroger and other corporations.”
Kroger reportedly has settled with the IRS for an undisclosed amount.
• PBM Products,a private label baby formula manufacturer, reportedly has won $13.5 million in damages in a suit against Mead Johnson & Co., which it accused of false advertising. Mead Johnson made certain nutrition claims for its products that it said were exclusive to that brand, an assertion that PBM successfully challenged in court.
- KC's View:
