Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, October 20, 1994 TAG: 9410210016
SECTION: BUSINESS PAGE: B-8 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
WASHINGTON - The Justice Department is investigating allegations of price fixing and other anti-competitive behavior by brokers on the Nasdaq stock market, the nation's second-largest stock market, the government said Wednesday.
Justice Department spokeswoman Gina Talamona confirmed that an investigation was under way, but declined to provide details.
``The antitrust division is looking at the possibility of anti-competitive practices in the over-the-counter stock market,'' she said.
A top official at the National Association of Securities Dealers, which owns and operates Nasdaq, denied any price-fixing and denied knowledge of the investigation.
Richard Ketchum, the NASD's executive vice president, added, however, that one firm active on Nasdaq's small-order trading system informed Nasdaq ``that they have been talking to the Justice Department.'' He declined to identify the firm.
- Associated Press
620,000 could get Trigon refunds
RICHMOND - Nearly 620,000 customers who made excess co-payments to Trigon Blue Cross and Blue Shields may be eligible for refunds when the company begins issuing checks by the end of the month.
Trigon already has paid a $5 million fine to settle complaints by the state Bureau of Insurance that the company misled policyholders about their benefits and the cost of their insurance.
At issue was a practice of calculating policyholders' shares of their medical bills - their co-payments or co-insurance - without taking into account discounts Trigon had negotiated with hospitals and other medical facilities.
Since Trigon announced the refund program three weeks ago, more than 32,500 people have called its toll-free number to request claims forms. Customers have returned 3,046 forms.
- Associated Press
by CNB