JUNEAU — Alaska has recovered $30 million over the last five years from consumer fraud litigation.
Senior Assistant Attorney General Ed Sniffen says the state has sued businesses ranging from pharmaceutical companies to car dealers over price fixing and other unfair business practices.
Sniffen says money from these case settlements generally goes back to agencies that were defrauded, although occasionally the consumers themselves receive a portion of the settlement.
Alaska’s Medicaid program recovered $3 million in penalties from three pharmaceutical companies in January after the companies settled a price-fixing case.
During the last fiscal year alone, the state’s Department of Law recovered $576 million from litigation. Most of that, $500 million, came from settling a breach of contract and professional malpractice lawsuit with a former actuary.