LexisNexis® Legal Newsroom
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...