High Court Remands Reverse-Payment Settlement Cases To 3rd Circuit

WASHINGTON, D.C. - The U.S. Supreme Court on June 24 vacated the judgment of the Third Circuit in antitrust litigation involving the drug K-Dur and remanded for further consideration in light of its recent ruling in Federal Trade Commission v. Actavis, Inc., et al., in which it held that reverse-payment...

Attorney Claims Asbestos Firm Failed In Duty As Self-Insured Malpractice Carrier

SAN FRANCISCO - In a complaint filed July 1, an attorney claims that asbestos plaintiffs' law firm's conduct and errors resulted in legal malpractice claims against him and that the firm violated the California's unfair competition law (UCL) by failing to properly defend him from the charges...

Calif. Cipro Purchasers Seek Approval Of Settlement With Bayer Over Pay-For-Delay

SAN DIEGO - California purchasers of the antibiotic Cipro and third-party payers who reimbursed for California purchases of Cipro on July 11 asked a state court to grant preliminary approval to their $74 million cash settlement with Bayer Corp. and Bayer AG (collectively, Bayer) on claims that Bayer...

Johnson & Johnson Settles Shareholders' Recall Suit For $22.9M

TRENTON, N.J. - Plaintiffs in a shareholder lawsuit against Johnson & Johnson on July 15 asked a New Jersey federal judge to preliminarily approve a $22.9 million settlement of allegations that the drug maker caused their stock value to drop after the company conducted a massive recall of over-the...

Court To Weigh Insolvency Finding For Pharmacy In Fungal Meningitis Outbreak

SPRINGFIELD, Mass. - The judge overseeing the New England Compounding Pharmacy Inc. (NECP) Chapter 11 bankruptcy on July 18 agreed to conduct a hearing on a motion by creditors to declare the debtor insolvent so that personal injury claimants can assert state product liability claims against nondebtor...

3rd Circuit Rejects Garlock's Appeal Of Grace's Plan For Lack Of Injury, Standing

PHILADELPHIA - Chapter 11 debtor Garlock Sealing Technologies Inc. does not have standing to object to fellow debtor W.R. Grace & Co.'s confirmed plan of reorganization because Garlock cannot show that it will be harmed by the plan, the Third Circuit U.S. Court of Appeals held July 24 (In re...

Insurers: K-V Discovery's Reorganization Plan Should Not Be Confirmed

NEW YORK - A group of insurance companies that are creditors in the Chapter 11 bankruptcy of pharmaceutical company K-V Discovery Solutions Inc. on Aug. 19 filed a brief arguing that the company's reorganization plan should not be confirmed because it may jeopardize their claims (In Re: K-V Discovery...

Kodak Seeks OK Of Deal In Which It Would Retain 15 Of 18 Disputed Patents

NEW YORK - Bankrupt Eastman Kodak Co. on Aug. 26 moved in bankruptcy court for approval of a settlement agreement with Global OLED Technology (GOT) LLC under which Kodak would retain 15 of 18 disputed patents related to Organic Light Emitting Diodes (OLEDs) (In Re: Eastman Kodak Company, No. 12-10202...

Judgment Entered Against Garlock After W.R. Grace Appeal Rehearing Denied

PHILADELPHIA - The Third Circuit U.S. Court of Appeals on Sept. 13 entered final judgment against Chapter 11 debtor Garlock Sealing Technologies LLC in Garlock's appeal of confirmation of fellow debtor W.R. Grace & Co.'s plan of reorganization after denying Garlock's request for rehearing...

Jury Awards $113M For Attempted Monopolization Of Safety Syringe Market

MARSHALL, Texas - A federal jury in Texas on Sept. 19 awarded Retractable Technologies Inc.(RTI) $133,508,014 in damages against Becton, Dickinson & Co. (BD) for attempted monopolization of the market for safety syringes through deceptive practices (Retractable Technologies, Inc., et al. v. Becton...

Judge Grants Final Approval Of $688M Settlement In 2 Securities Class Actions

NEWARK, N.J. - A federal judge in New Jersey on Oct. 1 granted final approval of a $688 million settlement in two securities class action lawsuits alleging that Merck and Co. Inc. and others failed to disclose adverse results of a clinical trial for two cholesterol drugs Merck was developing (In Re:...

Judge Again Finds Dow Breast Implant Settlement Includes Tissue Expanders

DETROIT - On remand from a federal appeals court, the judge overseeing the Dow Corning silicone breast implant settlement on Oct. 8 affirmed her four-year-old ruling that breast tissue expanders are covered by the settlement (In Re: Settlement Facility Dow Corning Trust, No. 00-00005, E.D. Mich., S....

Trustee Adequately Alleges Competition Law Claims Against Lender, Judge Says

SACRAMENTO, Calif. - Allegations that a lender treated a trustee as a borrower during some transactions while not treating her as such during loan modification discussions support California unfair competition law (UCL) claims, a federal judge held in an opinion filed Oct. 11 (Barbara McGarvey v. JP...

New Trial Sought After $113M Verdict In Attempted Monopolization Case

MARSHALL, Texas - Becton, Dickinson & Co. (BD) on Oct. 11 moved for judgment as a matter of law or, alternatively, a new trial following a federal jury in Texas' $133,508,014 damage award in favor of Retractable Technologies Inc.(RTI) on its claim of attempted monopolization of the market for...

Savient Pharmaceuticals Files For Chapter 11 Bankruptcy, Gets Cash Management OK

WILMINGTON, Del. - The federal bankruptcy judge in Delaware presiding over the Chapter 11 case of Savient Pharmaceuticals Inc. on Oct. 17 gave the company approval to use a cash management system in conducting its bankruptcy proceeding (In Re: Savient Pharmaceuticals Inc., No. 13-12680, Chapter 11, D...

9th Circuit: Incorporating SEC Filings By Reference Into SPD Is Fiduciary Act

SAN FRANCISCO - Participants in eligible individual account plans (EIAPs) sponsored by a drug manufacturer sufficiently alleged that the plans' fiduciaries breached their fiduciary duty of care imposed by the Employee Retirement Income Security Act by retaining company stock in the plans when the...

Johnson & Johnson Sued For Failing To Discount Prices Of HIV/AIDS Drugs

LOS ANGELES - The AIDS Healthcare Foundation (AHF) on Oct. 30 sued Johnson & Johnson (J&J) and related entities in California state court, alleging that for nine years, they failed to provide drugs at a discounted rate required under a federal "safety net" program to treat HIV and AIDS...

Bankrupt Rotech Healthcare: Counsel For Equity Committee Not Entitled To Any Fees

WILMINGTON, Del. - The reorganized version of bankrupt Rotech Healthcare Inc. on Nov. 12 filed a brief objecting to the $851,105.20 fee application of the law firm that represented the Official Committee of Equity Security Interest Holders, arguing that the firm did not provide value to the bankruptcy...

Committee: Savient Seeking 'Inappropriate Concessions' With Its Cash Collateral

WILMINGTON, Del. - The Official Committee of Unsecured Creditors in the Chapter 11 bankruptcy case of Savient Pharmaceuticals Inc. on Nov. 25 filed a brief in the U.S. Bankruptcy Court for the District of Delaware objecting to Savient's motion seeking approval to use cash collateral (In re: Savient...

Law Firm: Bankrupt Rotech Healthcare Not Allowed To Depose Its Attorneys

WILMINGTON, Del. - The law firm that represented the Official Committee of Equity Security Interest Holders in the Chapter 11 bankruptcy of Rotech Healthcare Inc. on Dec. 13 moved for a protective order, contending that Rotech should not be permitted to depose members of the firm (In Re: Rotech Healthcare...

Savient Pharmaceuticals Seeks Bankruptcy Court OK For Deal Allowing $2.06M Claim

WILMINGTON, Del. - Bankrupt Savient Pharmaceuticals Inc. on Dec. 18 moved in the U.S. Bankruptcy Court for the District of Delaware for approval of a global settlement agreement that would allow its landlord to assert a claim against the bankruptcy estate for $2,062,000 in exchange for an agreement to...

Medical Device Manufacturer To Pay $30M For Role In Securities Fraud Scheme

WASHINGTON, D.C. - Medical device manufacturer ArthroCare Corp. will pay a $30 million monetary penalty to settle claims that certain of its senior executives engaged in a securities fraud scheme that bilked the company's shareholders out of more than $400 million, according to a press release issued...