Summary
Becton Dickinson & Co. (BDX) disclosed on September 15, 2006, that it received a subpoena from the Attorney General of the State of Illinois on August 21, 2006. The subpoena relates to BDX's involvement as a member of Healthcare Research & Development Institute, LLC (HRDI), a healthcare trade organization. The investigation by Illinois authorities concerns potential violations of consumer fraud, deceptive business practices, charitable trust, and solicitation for charity acts. BDX stated that it believes its participation in HRDI is fully compliant with all applicable laws. The company has no further information regarding the investigation at this time but intends to cooperate fully with the Attorney General's office. Investors should monitor this situation for any further developments that could potentially impact the company's operations or reputation, although BDX currently expresses confidence in its compliance.
Key Highlights
- 1BDX received a subpoena from the Illinois Attorney General on August 21, 2006.
- 2The subpoena is related to BDX's membership in Healthcare Research & Development Institute, LLC (HRDI).
- 3The investigation by Illinois authorities concerns potential violations of consumer fraud and deceptive business practices acts.
- 4The investigation also touches upon potential violations of charitable trust and solicitation for charity acts.
- 5BDX believes its participation in HRDI is fully compliant with the law.
- 6BDX intends to cooperate fully with the Illinois Attorney General's office.
- 7An independent member of BDX's board, Gary Mecklenburg, also serves as non-executive chairman of HRDI.