LawCash Links

Recommended

A class action has been filed against Staar Surgical Company, a California based developer, manufacturer and global distributor of medical devices for use in cataract, refractive and glaucoma surgery, (NASDAQ: STAA) and certain of its officers and directors by stockholders who purchased the company’s common stock between April 3, 2003 and January 6, 2004. The action claims 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. The stockholders seek to recover compensatory damages for the loss of value of their stock.

Several class actions have been filed against global medical products and services company Baxter International, Inc., (NYSE:BAX) and certain of its officers and directors by stockholders who purchased the company's common stock between April 19, 2001, and July 21, 2004. Also included, are all those who acquired Baxter's shares through its acquisitions of Autros, Fusion Medical, ESI Lederle, Acambis, Alpha-1, Cook Pharmaceutical, and Icodextrin, and present and former employees who purchased stock through Baxter's Retirement Savings Plans. 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.

InterMune Inc., a biopharmaceutical company based out of California, has agreed to pay the government $36.9 million to resolve criminal charges and civil liabilities in connection with allegations of illegally promoting Actimmune for treatment of idiopathic pulmonary fibrosis (IPF).

The class has been certified in a class action filed against pharmaceutical benefits manager PCS Health Systems, Inc. on behalf of Oxford Health Plans, Inc. participants who allege that PCS failed to pass on drug rebates and discounts in violation of the federal Employee Retirement Income Security Act from March 5, 1995, to March 5, 1998.

GlaxoSmithKline and the FDA notified physicians of changes to the pregnancy/precautions section of the prescribing information for Paxil and Paxil CR Controlled-Release Tablets. Glaxo's studies suggest Paxil may be more likely to be linked to birth defects than similar drugs.

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.

IT'S FREE