Verizon to Pay $93.5M in False Claims Settlement

Verizon Communications (NYSE:VZ) has agreed to pay $93.5 million to settle allegations that it overcharged the U.S. government on contracts for voice and data services, the U.S. Justice Department said on Tuesday.

Verizon's MCI Communications Services Inc unit was accused of invoicing the General Services Administration for various taxes and surcharges in violation of contracts or regulations, the Justice Department said.