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Defendants’ Motion for Stay Denied in Lamictal Pay-For-Delay Case

February 22nd, 2019

On February 15, 2019, Magistrate Judge Cathy L. Waldor issued a text order denying defendants GlaxoSmithKline PLC and Teva Pharmaceutical Industries Ltd.’s motion to stay the district court proceedings pending resolution of their Rule 23(f) petition to review the Court’s order certifying the direct purchaser class. GSK and Teva petitioned the Third Circuit for an appeal of the class...

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Faruqi & Faruqi, on Behalf of Direct Purchasers, Defeats Motion to Dismiss in Zetia Pay-For-Delay Case

February 20th, 2019

On February 6, 2019, Magistrate Judge Douglas E. Miller of the Eastern District of Virginia recommended that the district court deny defendants Merck & Co., Inc. and Glenmark Pharmaceuticals Inc.’s motion to dismiss in the pay-for-delay case over Merck’s blockbuster cholesterol drug Zetia. Faruqi & Faruqi represent the direct purchaser plaintiffs in this litigation. Plaintiffs alleged that...

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Insider Trading Plans Come Under Legislative Scrutiny

February 4th, 2019

A new House Bill, the “Promoting Transparent Standards for Corporate Insiders Act,” could change how corporate insider trading is conducted and disclosed.  On January 28, 2019, the full House overwhelmingly voted to give the Securities and Exchange Commission (“SEC”) the authority to carry out a study on SEC Rule 10b5-1.  Under the current Rule, an insider’s stock sale is not...

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Recent Sec Actions Highlight the Importance of Implementing Effective Cybersecurity Measures

January 24th, 2019

On January 15, 2019, the United States Securities and Exchange Commission (“SEC”) filed a civil complaint against thirteen individuals and entities for allegedly hacking into the SEC’s EDGAR filing database between May and at least October 2016.  The complaint alleges that the hackers reaped over $4.1 million from trading on information in confidential filings.  SEC Chairman Jay...

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Direct Purchasers of Lamictal Certified as a Class in Pay-for-Delay Case

December 17th, 2018

On December 12, 2018, Judge William H. Walls of the United States District Court for the District of New Jersey certified a class of direct purchasers of GlaxoSmithKline’s blockbuster epilepsy and bipolar disorder drug Lamictal. In the pay-for-delay case In re Lamictal Direct Purchaser Antitrust Litigation, plaintiffs challenge a settlement agreement between GlaxoSmithKline and Teva...

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