BUZZ-Lilly falls after US Supreme Court turns away challenge to whistleblower law
Eli Lilly and Company
Eli Lilly and Company LLY | 0.00 |
** Shares of drugmaker Eli Lilly LLY.N fall 2.3% to $981.91
** The U.S. Supreme Court declines on Monday to hear a challenge by Lilly to a Civil War-era whistleblower law that allows private individuals to bring fraud lawsuits on behalf of the federal government
** The justices turned away Lilly's appeal of a lower court's ruling that upheld a $183 million judgment arising from a whistleblower lawsuit against the drugmaker for defrauding Medicaid
** Lilly had argued that handing government power to private citizens in this manner violates the U.S. Constitution
** Including session's move, stock down 8.3% YTD
