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California High Court: Pharmacies That 'Passed On' Higher Costs Have UCL Injury

SAN FRANCISCO - (Mealey's) Pharmacies have standing to pursue unfair competition law (UCL) claims alleging that they paid higher prices because of price fixing by pharmaceutical companies, even though they passed the higher prices on to consumers, the California Supreme Court held July 12 ( James...

High Court Agrees To Hear Appeal In Securities Suit Against Drug Maker

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on June 11 agreed to hear an appeal of a Ninth Circuit U.S. Court of Appeals ruling affirming a federal district court's grant of class certification in a securities class action lawsuit against a drug maker and others ( Amgen Inc., Kevin W...

High Court Asked To Decide Whether Securities Suit May Proceed As A Class Action

WASHINGTON, D.C. - (Mealey's) A shareholder plaintiff and a pharmaceutical company on Nov. 5 debated in front of the U.S. Supreme Court whether a securities lawsuit may proceed as a class action even if the plaintiff is unable to plead materiality ( Amgen Inc., Kevin W. Sharer, Richard D. Nanula...

Supreme Court Rules Materiality Not A Prerequisite To Certification In Securities Class Action Lawsuit

WASHINGTON, D.C. - (Mealey's) Materiality is not a prerequisite to class certification in a securities class action lawsuit where the plaintiffs are seeking monetary damages for alleged violations of Sections 10(b) of the Securities Exchange Act of 1934 and Securities and Exchange Commission Rule...