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Important Case Updates
November 9, 2007
Merck Agrees to Settle U.S. Products Liability VIOXX Cases
The law firms that comprise the Executive Committee of the Plaintiffs' Steering Committee of the federal multidistrict VIOXX litigation, as well as representatives of plaintiffs' counsel in state coordinated proceedings, have reached an agreement to resolve U.S. products liability VIOXX claims already filed against the company. Merck has set aside $4.85 billion to pay claims of U.S. plaintiffs who suffered myocardial infarctions or ischemic strokes.
July 20, 2007
JURY FINDS GENERAL ELECTRIC RESPONSIBLE IN ASBESTOS-LINED BRAKE CASE
A jury in Baltimore Circuit Court has found General Electric (NYSE:GE) liable in the death of three former Bethlehem Steel plant workers. All three died of lung cancer that the plaintiffs argued was caused in part by the brakes on overhead crane and mill motors at the Sparrows Point mill. The jury awarded more than $3.9 million dollars to the families.
"As co-counsel for the victims' families, we are very pleased that the jury recognized General Electric's responsibility to these families for the asbestos-lined brake products it sold," stated Fritz Jekel, a Motley Rice attorney who tried the case.
July 6, 2007
U.S. District Court Denies Defendant's Motion to Dismiss
A U.S. District Court in Utah has denied defendant NPS Pharmaceuticals Incorporated's (NASDAQ: NPSP) motion to dismiss in a securities fraud class action lawsuit brought against the drug development company.
"As counsel for the class of shareholders we are very pleased that we will now commence our discovery and class certification efforts," stated Ann Ritter, Motley Rice member and securities fraud attorney.
In this case the plaintiff alleges that NPS knew of significant problems with a new drug they were creating, yet intentionally and knowingly made misleading statements regarding the safety, efficacy and potential market size of the drug in violation of the Securities Exchange Act.
Click here to read the Judge's order.
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