Feb
25
Parties Agree To Settle Generic Wellbutrin XL Consumer Fraud Litigation
February 25, 2012 | Leave a Comment
PHILADELPHIA – The manufacturer and distributor of a version of the antidepressant Wellbutrin XL have agreed to settle via injunctive relief consumer fraud litigation claiming that the generic pill was deceptively labeled, a Pennsylvania federal judge said in a Feb. 1 order granting preliminary approval to the pact (In re: Budeprion XL Marketing and Sales [...]
Feb
4
JPMorgan Agrees To Pay Nearly $ 700M To Settle Claims With Lehman Brothers
February 4, 2012 | Leave a Comment
NEW YORK – JPMorgan Chase Bank NA on Feb. 1 agreed to pay nearly $ 700 million to bankrupt Lehman Brothers Holdings Inc. (LBHI) that JPMorgan had been previously paid for “purportedly secured claims against LBHI on the basis that, as ‘affiliates’ of JPMorgan Chase Bank, N.A., their claims were guaranteed by LBHI” under a [...]
Jan
23
Merck, Canadian Plaintiffs Settle Vioxx Litigation For Up To $ 36.3M
January 23, 2012 | Leave a Comment
Merck Sharp & Dohme Corp. and plaintiffs’ counsel in four Canadian Vioxx class actions announced Jan. 19 that they have agreed to settle the litigation for up to $ 36.3 million (Mignacca, et al. v. Merck Frosst Canada Ltd, et al., No. 04-CV-045435CP, Ontario Super. Ct. of Justice; Pelletier v. Merck & Co. Inc., et [...]
Jan
17
6 Third-Party Payers Settle Zyprexa Claims For $ 4.5M Amount After Class Vacated
January 17, 2012 | Leave a Comment
BROOKLYN, NY – The Zyprexa multidistrict litigation judge on Jan. 12 approved a $ 4.5 million settlement between Eli Lilly and Co. and six third-party payers who had their Racketeer Influenced and Corrupt Organizations (RICO) Act class action vacated and who couldn’t find any other health benefit providers to join their individual suits, the parties [...]
Dec
25
Countrywide Agrees To Pay $ 335M To Settle Government’s Discriminatory Lending Claims
December 25, 2011 | Leave a Comment
LOS ANGELES – Countrywide Financial Corp. has agreed to pay $ 335 million to settle claims by the U.S. government that the lender and its subsidiaries engaged in discriminatory lending practices by steering African-American and Hispanic borrowers toward subprime mortgage loans with higher interest rates and fees, the U.S. Department of Justice announced Dec. 21 [...]
Nov
7
GlaxoSmithKline To Settle 3 Federal Investigations For $ 3 Billion
November 7, 2011 | Leave a Comment
LONDON – GlaxoSmithKline plc (GSK) has reached an agreement in principal to settle three United States federal criminal and civil investigations for $ 3 billion, the company said Nov. 3 in a press release on its Web site. LexisNexis® Mealey’s™ Daily Legal News
Oct
23
Citigroup To Pay $ 285M To Settle SEC Claims
October 23, 2011 | Leave a Comment
WASHINGTON, D.C. – Citigroup Global Markets Inc. has agreed to pay $ 285 million to settle claims that it misled investors about a collateralized debt obligation (CDO) “that was tied to the U.S. housing market in which Citigroup bet against investors as the housing market showed signs of distress,” according to a press release issued [...]
Oct
2
Guidant To Pay $ 9.25M To Settle False Claims About Unpaid Warranty Credits
October 2, 2011 | Leave a Comment
NASHVILLE, Tenn. – Boston Scientific Corp. subsidiary Guidant LLC has agreed to pay $ 9.25 million to settle a False Claims Act lawsuit alleging that it failed to pass along all or some warranty credits for pacemakers and implantable defibrillators that had to be replaced, the U.S. Justice Department announced Sept. 26 (United States of [...]
Jul
11
Wells Fargo To Pay $ 125M To Settle Mortgage-Backed Securities Claims
July 11, 2011 | Leave a Comment
SAN JOSE, Calif. – Lead plaintiffs and Wells Fargo Bank, N.A., its subsidiary and four officers and directors have agreed to a $ 125 million settlement of claims filed by investors in connection with Wells Fargo’s offering of $ 36 billion in mortgage pass-through certificates, according to documents filed in California federal court and made [...]