Phil Law Weblog

A class action lawsuit filed against Salomon Smith Barney alleged the investment firm of offering undisclosed incentives to brokers and financial advisers, extracting improper fees from investors in its proprietary funds and encouraging its propriety funds to invest in poorly performing companies because of their status as Smith Barney investment banking clients, has been dismissed [...]

South Carolina Attorney General Henry McMaster is going to file a lawsuit against Abbott, Baxter, Dey L.P., Boehringer Ingelheim Roxane and Schering-Plough, five prescription drug companies for allegedly overcharging Medicaid and the State Health Plan by $40 million.

A preliminary agreement to settle $250 million investor lawsuits over losses from Adelphia Communications Corp.’s collapse has been agreed by thirty-nine financial institutions, including Charlotte’s Bank of America Corp. and Wachovia Corp.

GlaxoSmithKline has agreed to settle a nationwide $70 million class-action lawuit to cancer patients and health plans who were overcharged for vital medications Kytril and Zofran. Kytril and Zofran are drugs commonly used to ease the side effects associated with cancer treatments.

Taser International, Inc., a market leader in advanced electronic control devices has agreed to settle several lawsuits pending in United States District Courts.

Disputed foreign currency costs class action lawsuit which was launched by Ontario retirement plan investor James MacDonald on behalf of all former and current BMO clients who held RRSPs, RRIFs or RESPs, and incurred foreign currency conversion charges on those accounts since mid-June 2001, also includes Bank of Montreal along with its BMO Nesbitt Burns [...]

A class action lawsuit has been filed in the United States District Court for the Eastern District of Missouri against Centene Corporation, alleged violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material misrepresentations to the market which [...]

A class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of shareholders who purchased, exchanged or otherwise acquired the common stock and other securities of SafeNet, Inc. (”SafeNet” or the “Company”) (NYSE: SFNT) between March 31, 2003 and May 18, 2006 alleges SafeNet [...]

U.S. District Judge John Lungstrum approved an agreement to settle a class action lawsuit between Sprint Nextel Corp. and being tied to the company’s stock degraded former employees who claim their retirement accounts for $29 million.

A new complaint has been filed in “click fraud” class action lawsuit against Google, the search engine, that Google hasn’t taken steps to prevent click fraud and has misrepresented efforts to stop swindlers from repeatedly clicking Web site links to drive up advertising costs.