An American pharmaceutical company agreed Monday to pay US$260 million to resolve allegations that it underpaid health care rebates and used a foundation as a conduit to pay illegal kickbacks in order to increase its drug prices.

A federal judge in Texas dismissed on Tuesday the National Rifle Association’s bankruptcy claim, arguing that the type of threat the organization faced from the lawsuit brought by New York Attorney General Leticia James did not qualify for Chapter 11 bankruptcy protections.

Faroz, a controversial and one of the largest Tajik conglomerates announced liquidation of its assets, saying the “company has lost its competitiveness in the country’s market,” the Central Asian media outletAkhbor reported Friday.