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Glaxo Takes $2.36 Billion Charge On Legal Costs

LONDON - (AP) Pharmaceutical company GlaxoSmithKline said Thursday it expects to take a $2.36 billion charge against second-quarter earnings for the costs of settling court cases over the antidepressant Paxil and diabetes drug Avandia. The company said the charge includes settlements, agreements to settle...

NERA Releases Mid-Year 2010 Securities Litigation Study

Largely as a result in the decline of the number of new credit crisis related cases, the number of new securities class action lawsuits filings is "on track to decline for a second successive year from their 2008 peak," according to a NERA Economic Consulting report entitled "Trends 2010...

Reed Smith On The Insurance Company's Settlement Of Tort Claims: An Analysis Of In Re East 51st St. Crane Collapse Litigation

By John Berringer and Jennifer Katz, Reed Smith LLP In In Re East 51st St. Crane Collapse Litigation , the New York Supreme Court permitted the primary insurance company to enter into a settlement which clearly was not "in the best interests of the insured." That decision set an extremely...

Teen Asks Congress To Lift Train Wreck Settlement Caps

WASHINGTON, D.C. - (AP) A teen-age girl whose father was killed in a 2008 commuter train crash in California took aim Thursday at a federal law that caps legal settlements involving rail accidents at $200 million. Fifteen-year-old Mackenzie Souser of Camarillo, Calif., explained to a House panel what...