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During 2015, $MYL recorded a $97.4MM net gain for litigation settlements vs. a net charge of $47.9MM in the prior year. The gain in 2015 was primarily related to the settlement of the Paroxetine CR matter with $GSK for approx. $113MM and the settlement of certain antitrust matters, partially offset by the settlement of patent infringement matters.
The latest earnings report by $VZ shows how it is losing customers despite offering the unlimited data plans, a record for the company.
$BEBE is closing down all its stores by the end of May.
$WFC agreed to hike its payout in a class-action settlement over unauthorized accounts by $32 million to $142 million for its retail sales practices. The settlement will now include customers who were impacted as early as May 2002.