Baton Rouge Personal Injury Lawyer - Miscellaneous

Zyprexa Class Action Now Includes 8 States

Shannon Weidemann — Thu, 12 Jul 2007 09:46:06 GMT

There are now eight states that have filed a class action lawsuit against Eli Lilly, the maker of the drug Zyprexa. The lawsuits have been filed because Eli Lilly allegedly advertised the drug for uses that were not approved by the FDA. They also claim that the drug manufacturer did not properly warn of potential side effects.

A representative from Myers' office confirmed Tuesday that Oregon "is part of the leadership states (Executive Committee) for a multi-state case concerning Eli Lilly and Zyprexa", Dawdy reported. Myers would use in-house staff rather than private lawyers as Montana recently did, the official added.
Just over two years ago, Indianapolis-based Eli Lilly announced it had paid around $690 million to settle claims, including class-action lawsuits, over claims it minimized Zyprexa's side-effects. But Lilly also warned it would fight other legal claims against Zyprexa.

The states claim the price of Zyprexa was artificially inflated by the company so their Medicare and Medicaid programs had to pay out higher claims.

For more information on this subject, please refer to our section on Drugs, Medical Devices, and Implants.

Originally posted at InjuryBoard by Shannon Weidemann

Class Action Lawsuit Filed Against Petco

Shannon Weidemann — Thu, 31 May 2007 14:18:44 GMT

A class action lawsuit has been filed in New York against the pet retailer Petco and the pet food distributor Pet Food Experts Inc. The lawsuit stems from allegations that the pet chew Greenies was harmful to dogs and that the manufacturer knew this but did nothing to warn consumers. The chews were sold at Petco.

The plaintiffs in the lawsuit, which was filed in state court, are asking for reimbursement on their purchases of the "original" Greenies dental chews for dogs between June 2001 and May 22, 2007.

A class action lawsuit has also been filed against the manufacturer S&M NuTec over the product. The formula has since been changed for Greenies and the company was purchased by Mars Inc.

Originally posted at InjuryBoard by Shannon Weidemann

Shaw Group Class Action Lawsuit

Staff Writer — Thu, 17 Nov 2005 12:24:34 GMT

In a complaint filed June 16, 2004, class action lawyers allege that Shaw Group, Inc. did not accurately represent its financial outlook for the period between October 19th 2000 and June 10, 2004. Shaw Group class action attorneys claim that, during that time, insiders at the company sold shaes of the company's stock at inflated prices, earning over $80M in the process.

According to Stanford Law School's Securities Class Action Clearinghouse,

The complaint alleges that the company also sold $490 million of convertible zero coupon liquid option notes during that period. The company's revenue and earnings were inflated, the complaint says, because Shaw improperly established and drew on reserve accounts set up in connection with the acquisition of Stone & Webster Inc. and IT Group in 2002.
More specifically, the complaint alleges that such results were not prepared or reported in accordance with Generally Accepted Accounting Principles and deceived investors as to the Company's true performance, thereby artificially inflating the price of Shaw securities during the Class Period. Specifically, the complaint alleges that the defendants artificially inflated the Company's reported revenues and earnings by improperly establishing and drawing on reserve accounts established in connection with a series of large acquisitions, including the acquisition of Stone & Webster Inc. in July 2000 and the acquisition of The IT Group in May 2002. The complaint further alleges that defendants prematurely recognized revenue in violation of Shaw's own purported policies and Generally Accepted Accounting Principles, and that defendants failed to disclose the extent to which Shaw was vulnerable to changes in power generation market conditions.

Read the whole Shaw Group Class Action summary.

The Shaw Group provides services for a variety of industries around the globe, including energy, environmental and infrastructure industries.

Originally posted at InjuryBoard by Staff Writer

Disclaimer

Staff Writer — Wed, 02 Mar 2005 11:57:41 GMT

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Originally posted at InjuryBoard by Staff Writer