Feds to charge over $1.3B over sale of ‘groceries store’
Feds will charge over a billion dollars over the sale of a Korean grocery store chain and other retailers, the Justice Department announced Monday.
The government charged retailers over the next four years under the Sarbanes-Oxley Act, which bans the “excessive” or “disruptive” sale of goods and services.
It also requires the U.S. government to disclose the “nature, extent, and cause of” any actions that could lead to a civil or criminal penalty.
“This action will send a strong signal to businesses that this kind of behavior will not be tolerated and that we will take swift action to hold them accountable for violations,” Attorney General Loretta Lynch said in a statement.
“In addition, the DOJ is committed to ensuring that companies that engage in illegal, deceptive, or abusive practices do not get off lightly.
Companies that commit such actions will face consequences, including penalties.”
A number of major retailers were among the accused.
The Food and Drug Administration is also investigating the companies.
A total of 5.7 million people across the country were charged in the settlement, which was reached in September.
Some retailers were fined $1,500 each, while others were fined as much as $15,000.