Court Dismisses Alleged Overcharging Action Filed Against Rite Aid by Florida Attorney General; Florida Court Finds Nothing to Suggest Unfair or Deceptive Practices.Business Editors CAMP HILL, Pa.--(BUSINESS WIRE)--Feb. 23, 2000 Rite Aid Corporation (NYSE NYSE See: New York Stock Exchange , PSE PSE 1. pale soft exudative pork. 2. portosystemic encephalopathy. : RAD) announced today that an action filed against the company by the Florida Attorney General The Florida Attorney General is an elected official in the U.S. state of Florida. The position has a four year term of office with a two term limit. Attorney General Term of Service Joseph Branch 1845 - 1846 Augustus E. Maxwell 1846 - 1848 James T. for certain former prescription pricing policies has been completely dismissed by a circuit court in Tallahassee, Florida. The court said there are no laws, rules, regulations, or federal or state cases to suggest that Rite Aid's former pricing policies involving certain cash prescriptions were unfair or deceptive. Rite Aid said, "We are very pleased with the judges' decision. It confirms what the company has believed all along, that our pricing practices were, and continue to be, well within the law, and consistent with pricing practices in many other industries." The Federal District Court of Alabama recently also dismissed a similar civil class-action lawsuit. Rite Aid operates 140 stores in Alabama. Rite Aid has not operated stores in Florida for several years. Rite Aid is one of the nation's leading drugstore chains with annual revenues of approximately $13 billion and approximately 3,800 stores in 30 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). . Rite Aid owns PCS (1) (Personal Communications Services) Refers to wireless services that emerged after the U.S. government auctioned commercial licenses in 1994 and 1995. This radio spectrum in the 1. Health Systems, Inc., which provides pharmacy benefit management A Pharmacy Benefit Manager (PBM) is a third party administrator of prescription drug programs. They are primarily responsible for processing and paying prescription drug claims. programs and services that can help improve patient health and reduce health care costs. Rite Aid also owns approximately 22 percent of drugstore.com, a leading online source for health, beauty and pharmacy products. Information about Rite Aid, including corporate background and press releases, can be found at the company's Web site at http://www.riteaid.com. |
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