FDX: FedEx Indicted for Delivering Illegal Prescription Drugs

The company denies any wrongdoing

   

FDX: FedEx Indicted for Delivering Illegal Prescription Drugs

FedEx (FDX) was indicted Thursday as part of an ongoing Justice Department investigation regarding the shipment of illegal prescription drugs.

FedEx FDX: FedEx Indicted for Delivering Illegal Prescription DrugsThe company is facing charges for allegedly failing to establish effective methods of preventing shipments of drugs without prescriptions from online pharmacies. FedEx denies these allegations, claiming its employees have not been involved in illegal activities regarding the shipment of prescription drugs.

The government has been investigating the matter for years including subpoenas in 2008 and 2009. FedEx says it responded to both inquiries.

UPS (UPS) avoided charges for similar allegations with a $40 million settlement last year.

FDX stock is up over 0.5% Friday afternoon. UPS stock is up close to 0.9%.

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Article printed from InvestorPlace Media, http://investorplace.com/2014/07/fdx-fedex-drugs/.

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