Ford to pay $10.1 million to settle sexual and racial harassment claims

The markets extended its losses during the midday with the Dow plunging 180 points to 21,844. Nasdaq plummeted 81 points to 6,263.


Ford Motor has voluntarily agreed to settle sexual and racial harassment allegations without admitting liability. The U.S. Equal Employment Opportunity Commission investigated claims and found evidence that workers at Ford's Chicago Assembly Plant and the Chicago Stamping Plant harassed female and black employees. The automaker will pay $10.1 million to settle the allegations.


A New York appeals court sided with Uber Technologies in a lawsuit that challenged the ride sharing service's arbitration clause in its user agreement. The plaintiff sued Uber for antitrust violations when the service engaged in surge pricing. Uber appealed the lower court ruling that sided with the plaintiff by arguing that when users register for their service, users relinquish their right to sue and agree to arbitration.


EpiPen maker Mylan will pay $465 million to settle charges that the company overcharged Medicaid. Mylan competitor Sanofi filed a suit against the pharmaceutical for falsely claiming that EpiPens purchased by Medicaid were generic products. The deception allowed Mylan to avoid paying rebates to Medicaid.


In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 plunged 24 points to 2,443. Bitcoin plummeted $72 to $4254.


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