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Case ID: 3556 | Drugs / Medical | 07/19/2004
An administrative proceeding has been filed against Smart Inventions, Inc., a California-based direct response TV company, and its Chief Operating Officer, Jon D. Nokes, by the Federal Trade Commission on behalf of persons who purchased “Biotape,” a tape-like substance promoted to treat or cure severe pain. The action alleges that there is no substantial evidence that the product relieves pain, and that the advertisements violate the FTC Act because they are false and misleading. The action seeks unspecified compensatory damages and disgorgement of all ill-gotten gains.
The lawsuit alleges that the defendants falsely claim that Biotape is superior to commonly available over-the-counter analgesics and topical creams and ointments in treating pain. The defendants allegedly advertise Biotape, which resembles electrical tape, primarily through a 30-minute infomercial that aired nationally on various cable stations, including Women’s Entertainment, The Discovery Channel, and the Inspirational Network. Darrell Stoddard – who developed Biotape and is featured in the infomercial along with the infomercial host Kevin Trudeau – also is named as a defendant. The product is also sold through a website devoted to advertising it. The infomercial sells Biotape in conjunction with Stoddard’s book, “Pain Free for Life.” A sheet of 10 adhesive Biotape strips costs approximately $10. The infomercial directs consumers to apply Biotape to the parts of their bodies where they experience pain. Biotape is purported to contain a “space age conductive mylar that connects the broken circuits that cause the pain.” The FTC complaint alleges that the defendants have falsely and without substantiation claimed that Biotape: (1) significantly and permanently relieves severe pain caused by surgical procedures, arthritis, migraines, and other serious conditions; and (2) is superior to other products and treatments, such as over-the-counter analgesics and topical creams and ointments, in eliminating or relieving severe pain. At Lawcash.com, it is our goal to keep you informed about important legal cases, class actions and settlements. Our lawyers offer free legal evaluations in tort cases, class actions, personal injury, and other lawsuits because we are dedicated to helping you resolve your legal complaints. Other Drugs / Medical Cases of Interest After the Anthrax attacks in 2001, the antibiotic Cipro was widely hailed as the preferred treatment for those who thought they had been exposed to the disease. A class action has been filed against German drug manufacturer Bayer AG on behalf of employees of the Brentwood Post Office in Washington, D.C., and workers at the U.S. Capitol, along with employees of American Media, Inc. in Florida and postal workers in general, all of whom allege that they have suffered serious side effects from taking the antibiotic ciprofloxacin (Cipro) in the aftermath of the anthrax attacks in 2001. The action alleges that Bayer failed to warn them of the potential side effects in violation of the Pennsylvania Unfair Trade Practices and Consumer Protection Laws.
Several class actions have been filed against pharmaceuticals and healthcare supply wholesaler D&K Healthcare Resources, Inc. (Nasdaq:DKHR) and certain of its officers and directors by stockholders who purchased the company's common stock between April 23, 2001, and September 16, 2002. The actions claim that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. Several class actions have been filed against healthcare facility operator Dynacq International (Nasdaq: DYIIE, formerly Nasdaq: DYII) and certain of its officers and directors by stockholders who purchased the company's common stock between January 14, 2003, and December 18, 2003. The actions claim that the defendants fraudulently certified that Dynacq's financial statements for the first three quarters of fiscal 2003 were compiled in compliance with Generally Accepted Accounting Principles. The stockholders seek to recover compensatory damages for the loss of value of their stock. Kahn Gauthier Swick is investigating possible legal actions against nursing homes to recover for injuries suffered by nursing home residents. There are more than one and one-half million elderly and disabled persons in 17,000 nursing homes across the United States. A settlement valued at 65 Million dollars has been reached in the consolidated action concerning alleged efforts by drug manufacturer Smith Kline Beecham to delay or impede the release of generic versions of the antidepressant drug Paxil, in order to continue selling the name brand drug at higher cost. On November 18, 2004 court ordered notification of potential claimainst began. Notices will be mailed, and are scheduled to appear in newspapers and magazines all over the United States, leading up to a hearing on March 9, 2005, when the Court will consider whether to approve the settlement. Several class actions have been filed against hedge fund operator Durus Capital Management, LLC, Durus Life Sciences Master Fund, Ltd., Scott Sacane, and Aksys, Ltd., by stockholders who sold short shares of Aksys, Ltd., (Nasdaq:AKSY) between January 1, 2003, to July 24, 2003. The actions claim that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially deflating the price of the company's securities. |
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