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  • AuRico Gold Reaches $13.25M Settlement in Securities Class Action Lawsuit
    New York, NY: AuRico Gold Inc. (TSX: T.AUQ, Stock Forum) (NYSE: AUQ, Stock Forum) has reached a settlement deal related to a securities class action lawsuit that was launched in 2008 when the company was known as Gammon Gold. The settlement agreement, which provides for a payment of $13.25 million to the settlement class, does not contain any adm...
  • April 2007 Big Pharma Litigation Update - Drugs (Part II)
    Apr-12-07 Washington, DC: The anti-epileptic drug, Depakote (valproate), marketed by Abbott Laboratories, is one of the most heavily prescribed medications for off-label use. Experts say the evidence of harm caused by Depakote is just beginning to emerge. According to Harrisburg, Pennsylvania psychiatrist, Dr Stefan Kruszewski, a recognized expert on psychotropic...
  • State Farm And Other Companies Charged Accident Surcharge
    Apr-9-07 Los Angeles, CA: Residents of California who purchased their auto insurance from State Farm between 1997 and 2002 may have unknowingly paid an illegal accident surcharge on their policies. The surcharge is also known as a "Non-Verifiable Accident Record Surcharge" or a "persistency discount." The surcharge was tacked on to policies for people who w...
  • AllianceBernstein Employees Win $2.98M Employment Class Action Lawsuit Settlement
    New York, NY: A $2.98 million settlement has been reached in the four-year-old employment class action lawsuit filed by AllianceBernstein employees who allege the investment management company of miscategorized them as overtime-exempt even though they held clerical jobs. According to a memo filed in New York federal court, the employees' attorneys...
  • April 2007 Big Pharma Litigation Update - Drugs (Part I)
    Apr-5-07 Washington, DC: For the last two decades, illegal drug marketing schemes have paid off well for Big Pharma. However, as the old saying goes, all good things must come to an end, and every major drug company is currently involved in massive litigation. Some companies are facing thousands of lawsuits with a common complaint that the drug maker deliberatel...
  • Settlement Proposed in Spansion WARN Act Class Action
    San Franscico, CA: A proposed class action settlement has been reached in a lawsuit brought on behalf of former employees of Spansion Inc. whose employment was terminated on or around February 23, 2009. The settlement resolves claims that Spansion violated the California and federal Worker Adjustment and Retraining Notification Acts ("WARN" Act) by failing...
  • LivingSocial Agrees $4.5M Settlement in Consumer Fraud Class Action Lawsuit
    Los Angeles, CA: A $4.5 million settlement has been agreed in the consumer fraud class action lawsuit pending against LivingSocial Inc. The lawsuit alleges that the daily deals company put expiration dates on its coupons. The lawsuit was filed approximately six months after Groupon Inc was hit with a similar lawsuit. Filed in April 2011by Melissa F...
  • Court Upholds $295M Settlement in De Beers Class Action
    San Francisco, CA: The U.S. Court of Appeals for the Third Circuit has issued an opinion today upholding the settlement in the antitrust class action litigation against the South African company De Beers, the world's largest diamond supplier, for allegedly conspiring to monopolize the sale of rough diamonds. The appellate court affirmed an order...
  • Morgan Keegan Agrees $62M Settlement in Investment Fraud Class Action Lawsuit
    New York, NY: Morgan Keegan & Co. Inc. has agreed to pay $62 million as part of a preliminary settlement of a securities class action involving more than 10,000 nationwide clients. The Commercial Appeal reports the terms of the settlement won't force the investment firm to admit any wrongdoing resulting from the 2008 meltdown of its mutual funds. ...
  • Silicon Valley Settles Tech Engineer Salary Fixing Class Action for $324M
    San Francisco, CA: Apple Inc, Google Inc, Intel Inc and Adobe Systems Inc have reached a pre-trial settlement of $324 million, potentially ending an antitrust and unfair business practices class action lawsuit that brought by Silicon Valley tech engineers. The lawsuit alleged that the four tech giants conspired to hold down salaries in Silicon Va...
  • Makers of Zyprexa Risperdal and Seroquel Under Fire
    Mar-9-07 Washington, DC: Eli Lilly, Johnson & Johnson, and AstraZeneca, are all named defendants in a new lawsuit filed by the state of Pennsylvania on February 26, 2007, to recover money paid through public health care programs to purchase Zyprexa , Risperdal, and Seroquel, and the costs of medical care for the people injured by these drugs. Pennsylvania...
  • Pfizer to Pay $190M in Neurontin Class Action Settlement
    New York, NY: A $190M settlement has been reached in a consumer fraud class action lawsuit pending against Pfizer which alleges the pharma giant engaged in tactics to delay market entry of generic versions of its epilepsy drug Neurontin. The lawsuit was filed by purchasers of Neurontin in 2002, claiming Pfizer undertook campaign of sham patent infri...
  • Astra Zeneca Proposes Settlement in Nexium Class Action Lawsuit
    Boston, MA: A proposed settlement has been reached in a consumer fraud class action lawsuit against Astra Zeneca alleging deceptive marketing practices around their anti-heartburn medication Nexium. In their lawsuit, entitled Commonwealth Care Alliance v. AstraZeneca Pharmaceuticals L.P., Docket No. 05-0269, the plaintiffs allege Astra Zeneca vio...
  • BMW Mini Cooper Defective Transmission Class Action Settlement
    San Francisco, CA: Preliminary approval of a defective automotive class action settlement has been granted, potentially ending the lawsuit pending against BMW over allegations the German auto-maker concealed a defect in the transmission of its Mini Cooper cars. US District Judge Philip S. Gutierrez, who is hearing the complaint, (Aarons v. BMW of...
  • State Farm Accident Surcharge
    Feb-28-07 Los Angeles, CA: State Farm Auto Insurance policy holders who live in California and who purchased policies between 1997 and 2002 may be eligible for reimbursement if they paid an accident surcharge on their policies. The accident surcharge, also referred to as a Non-Verifiable Accident Record Surcharge, is illegal in California. It was charged as an...
  • Another lawsuit filed against Eli Lilly's Zyprexa
    Feb-25-07 Chicago, IL: Eli Lilly faces yet another court appearance to defend its anti-psychotic drug Zyprexa after a lawsuit was filed late last month in Illinois. The plaintiff filed the lawsuit claiming he now suffers from diabetes and permanent bodily and mental harm after taking Zyprexa. He also argues that his illness has caused mental anguish, emotiona...
  • More Zyprexa Postcards From the Edge
    Feb-18-07 Washington, DC: On February 13, 2007, Judge Jack Weinstein issued a permanent injunction, prohibiting attorney, Jim Gottstein, and Dr David Egilman, an expert witness in litigation involving Zyprexa , from further disseminating certain Eli Lilly documents that were sealed with a court order until Mr Gottstein released them to the media in December 2006...
  • PIMCO Resolves Class Action for $92 Million
    Newport Beach, CA: PIMCO and PIMCO Funds today announced the proposed settlement of a class action lawsuit, Kohen et al. v. PIMCO and PIMCO Funds, originally filed in 2005 challenging certain trades by PIMCO in the June 2005 10-year futures contract. PIMCO will make a payment of approximately $92 million to the plaintiff class plus plaintiffs' a...
  • Merck Reaches Preliminary Settlement in Coppertone False Advertising Lawsuit
    New York, NY: A consumer fraud class action lawsuit regarding Merck & Co' Coppertone franchise has reached a preliminary settlement, with Merck agreeing to pay between $3 million and $10 million. The lawsuit, which was filed in 2003, alleges Merck made false claims about the benefits of its Coppertone sunscreen products. Merck inherited the laws...
  • Thin Screen TV Makers Investigated for Antitrust Violations
    Feb-16-07 Cincinnati, OH: Several makers of thin-film transistor liquid crystal display (TFT-LCD) televisions and monitors are under investigation for breaking anti-trust laws by allegedly fixing the prices of their televisions. The investigations are being carried out by the United States Department of Justice, Korea's Fair Trade Commission, and Japan's Fair...
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