FedEx pleads not guilty to drug trafficking

Memphis, Tenn.-based FedEx Corp. (NYSE: FDX) has pleaded not guilty to federal charges alleging it shipped and conspired to ship drugs for illegal Web-based pharmacies.

Via CNBC, a statement released by FedEx denied charges in its indictment that DEA, FDA or members of Congress ever asked the company to cease service to online pharmacies operating outside of the law.

An executive quoted in the statement also said gains from shipments were far below the $820 million stated in the indictment, according to the Memphis Business Journal.

Read more from the Memphis Business Journal.