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Certification Of Indirect Purchaser Class In Wellbutrin XL Antitrust Case Stands
Posted on 12 Apr 2012 by Mealeys

PHILADELPHIA - A federal judge in Pennsylvania on April 9 refused to reconsider her order granting certification of a class of indirect purchasers who are suing the producers and distributors of Wellbutrin XL for illegally conspiring to prevent generic... Read More

Wells Fargo, Missouri Class Submit Proposed $7M Settlement Over 2nd Mortgage Loans
Posted on 27 Jun 2012 by Mealeys

KANSAS CITY, Mo. - Wells Fargo Bank N.A., doing business as Wells Fargo Mortgage, and a putative class of Missouri residents on June 25 submitted to a federal magistrate judge a proposed agreement in which the lender would pay close to $7 million to resolve... Read More

Mealey's Emerging Securities Litigation Bulletin: Former Goldman Sachs Director Guilty of Insider Trading
Posted on 15 Jun 2012 by Mealeys

NEW YORK - Rajat Gupta, a former member of the boards of directors for The Goldman Sachs Group Inc. and the Procter & Gamble Co., today was found guilty by a federal jury of participating in an insider-trading scheme with former head of the Galleon... Read More

Defendants Win Summary Judgment In Suit Arising From Escrow Account
Posted on 14 May 2012 by Mealeys

LAS VEGAS - In a suit in which the receiver of a fund sued Fidelity National Title Agency of Nevada Inc. and its escrow officer regarding an escrow account, a federal judge in Nevada on May 11granted the defendants' motions for summary judgment, explaining... Read More

BNY Mellon, Wells Fargo To Pay $106M In MedCap Ponzi Settlement
Posted on 14 Jun 2012 by Mealeys

SANTA ANA, Calif. - The receiver for Medical Capital Holdings Inc. (MedCap) said yesterday that he had reached a $106 million settlement with Wells Fargo Bank NA and Bank of New York Mellon (BNY Mellon), resolving allegations that the banks were complicit... Read More

Sham Litigation Claims Against Biovail Are Settled; Case Against GSK Continues
Posted on 25 Jul 2012 by Mealeys

PHILADELPHIA - Biovail Corp., the manufacturer of the prescription antidepressant drug Wellbutrin XL, reached a $37.5 million settlement on July 23 with direct purchasers who claimed that Biovail illegally conspired to prevent generic versions of the... Read More

Sham Litigation Claims Against Wellbutrin XL Manufacturer, Distributor Fail
Posted on 15 May 2012 by Mealeys

PHILADELPHIA - A federal judge in Pennsylvania on May 11 granted summary judgment to the producers and distributors of Wellbutrin XL on direct and indirect purchasers' claims that the defendants illegally conspired to prevent generic versions of the... Read More

Court Allows Lawyer's Competition Law Action Against Online Legal Provider
Posted on 18 Mar 2013 by Mealeys

SANTA ANA, Calif. - A lawyer claiming increased costs and reduced income from an online legal provider's conduct alleges injury under the California unfair competition law (UCL) and may pursue the action even though he lacks direct business dealings... Read More

Borders Trustee Files 92nd Complaint Seeking To Recover $23 Million
Posted on 7 Jan 2013 by Mealeys

NEW YORK - The liquidating trustee in the Chapter 11 bankruptcy proceeding of BGI Inc., formerly known as Borders Group Inc., on Jan. 4 filed the latest in a total of 92 adversary complaints against various creditors in the U.S. Bankruptcy Court for the... Read More

Jury Finds Chinese Vitamin C Makers Fixed Prices; $153.3M Judgment Entered
Posted on 15 Mar 2013 by Mealeys

NEW YORK - A federal judge in New York on March 14 entered judgment for $153.3 million after trebling a jury's $54.1 million verdict in favor of a direct purchaser class on its allegations that Chinese corporations participated in an illegal cartel... Read More

Federal Judge Dismisses Antitrust Claim For Failure ToAllege Market Power
Posted on 5 Mar 2013 by Mealeys

SACRAMENTO, Calif. - Home purchasers who sued a subdivision's developer, builder and seller, alleging that the defendants manipulated the market value of the homes in the subdivision in violation of the Sherman Act, failed to allege market power in... Read More

Judge Refuses To Remand Class Action Suit Over Prepayment Penalties
Posted on 23 Jul 2012 by Mealeys

MINNEAPOLIS - A federal judge in Minnesota on July 19 refused to remand a class action lawsuit against Wilmington Finance Inc. over allegedly illegal prepayment penalties, ruling that the plaintiff was unable to show that the damages sought by the proposed... Read More

Freddie Mac, Wells Fargo Settle Telephone Consumer Protection Act Suits
Posted on 19 Jun 2012 by Mealeys

SAN DIEGO - The Federal Home Loan Mortgage Corp. (Freddie Mac) and Wells Fargo Auto Finance Inc. have agreed to pay $17 million to settle two putative class actions alleging that they illegally contacted customers on their cell phones in violation of... Read More

2nd Circuit Affirms Dismissal Of Stock-Drop Suit Against GSK, Fiduciaries
Posted on 6 Sep 2012 by Mealeys

NEW YORK - Drug manufacturer GlaxoSmithKline PLC (GSK) and its retirement plans' fiduciaries did not violate the Employee Retirement Income Security Act, 29 U.S.C.S. § 1001 et seq. , by permitting participants to continue to invest in company... Read More

PNC To Settle Overdraft Fee Class Complaint For $90M
Posted on 27 Jun 2012 by Mealeys

MIAMI - PNC Bank N.A. has agreed, via a joint notice filed June 26, to pay $90 million to settle class claims that the bank used a software scheme to illegally collect excessive overdraft fees (In Re: Checking Account Overdraft Litigation, No. 09-2036... Read More