SACRAMENTO, Calif. (AP) — A New Jersey company that manages prescription benefits has agreed to pay $2.7 million to settle an investigation into influence-peddling at California's largest public pension fund, officials announced Friday.
The California attorney general's office said Medco Health Solutions Inc. also has agreed to change its internal procedures.
The California Public Employees' Retirement System did not renew a contract with Medco last year after an investigation revealed the company paid more than $4 million to Alfred Villalobos to help secure a prescription drug contract.
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