Grabar Law Office - Case News: Google parent Alphabet Inc. pledged $310 million to expand diversity efforts and resolve shareholder litigation that alleged the company’s board failed to prevent sexual harassment and hid misconduct by executives.
https://finance.yahoo.com/news/google-reaches-310-million-settlement-173353215.html
FINANCE.YAHOO.COM
Google Reaches $310 Million Settlement In Misconduct Case
Blue Cross Blue Shield Health Insurers Reach Tentative Antitrust Settlement for $2.7 Billion.
https://www.wsj.com/articles/blue-health-insurers-reach-tentative-antitrust-settlement-for-2-7-billion-11600967231?st=0omblrh1sgjfb4t&reflink=article_email_share
WSJ.COM
WSJ News Exclusive | Blue Health Insurers Reach Tentative Antitrust Settlement for $2.7 Billion
Interior molded door manufacturers agree to settle class actions accusing the companies of using their market dominance to fix the prices interior molded doors for $75 million. #interiormoldeddoors #antitrustlaw #antitrust #pricefixing #classaction
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Grabar Law Office | LinkedIn
Grabar Law Office Files Class Action Complaint Against Manufacturers of the Pharmaceutical Drug Bystolic®
The Class Action Complaint against AbbVie, Inc. (“AbbVie”); Allergan, Inc., Allergan Sales, LLC, and Allergan USA, Inc. (collectively, “Allergan”); and Forest Laboratories, Inc., Forest Laboratories Holdings, Ltd., Forest Laboratories, LLC, and Forest Laboratories Ireland Ltd. (collectively, “Forest”) (together with AbbVie and Allergan, “Defendants”) alleges that the Defendants’ violated of federal and state antitrust, consumer protection and unjust enrichment laws concerning the pharmaceutical drug Bystolic® (nebivolol hydrochloride) (“Bystolic”).
Specifically, it is alleged that the Defendants’ unlawfully excluded generic substitutes for the branded drug Bystolic, an important cardiovascular prescription drug used to treat high blood pressure. It is commonly referred to as a “beta blocker” or a beta-adrenergic blocking agent that reduces blood pressure. Beta-blockers block hormone epinephrine (adrenaline) and cause the heart to beat more slowly with less force, thereby lowering blood pressure. It is alleged that Defendant Forest and its successors-in-interest manufacture, market and sell the branded version of Bystolic, which is a “blockbuster” prescription drug with annual U.S. sales exceeding $1 billion. Potential new generic market entrants filed Abbreviated New Drug Applications (“ANDA”) with the United States Food and Drug Administration (the “FDA”) to manufacture, market and sell generic versions of Bystolic on December 17, 2011. Despite these ANDAs filed nearly nine years ago, no generic competitor has or will enter the market until September 17, 2021. Generic drugs typically cost 50% less than the branded product and capture 80% or more market share of the branded product within the first six to nine months upon entry. To avoid or delay loss of market share and pricing, Defendant Forest entered into a series of unlawful reverse-payment agreements with potential generic competitors, to not compete or enter the market prior to September 17, 2021 and filed patent infringement actions against the generic companies that Filed ANDA applications accusing them of allegedly infringing on their relevant patent. It is further alleged that the Generic Competitors would have won and launched their generic form of the drug but rather than risk facing competition from the Generic Competitors as early as June 2015 and the subsequent reduction in Bystolic brand sales and revenues, Defendants entered into a prototypical “reverse-payment agreement” with the generics by sharing monopoly profits with them to induce them to stay out of the market until September 21, 2021. The result: the pharmaceutical companies won and health insurers and consumers, the intended victims of the anticompetitive scheme, were the biggest financial losers. As a direct and proximate result of Defendants’ conduct, Plaintiff and other class members have been injured in their business and property because they would have been able to purchase less expensive generic Bystolic instead of branded Bystolic at artificially inflated prices.
To learn more about this action, contact us today at jgrabar@grabarlaw.com or call 267-507-6085.
GRABAR LAW OFFICE FILES SHAREHOLDER DERIVATIVE ACTION AGAINST OFFICERS AND DIRECTORS OF FIRSTENERGY CORPORATION.
As alleged in the Complaint, Defendants adopted a corporate policy of providing illegal payments to government officials, including Ohio Speaker of the House Larry Householder, in exchange for Householder securing the passage of legislation that provided a $1.3 billion bailout of the Company’s failed nuclear power plants.
On July 21, 2020, the U.S. Attorney’s Office for the Southern District of Ohio announced that Householder and certain affiliates (together, the “Enterprise”) were arrested and charged in a federal racketeering conspiracy involving approximately $60 million paid by FirstEnergy and affiliates to a 501(c)(4) entity to pass and uphold the nuclear plant bailout (the “Criminal Action”). See USA v. Borges, Case No. 1:20-mj-00526 (S.D. Ohio).
The complaint alleges breach of fiduciary duty, unjust enrichment, and violations of Section 14(a) of the Exchange Act.
To learn more, contact us today at jgrabar@grabarlaw.com or 267-507-6085.
Grabar Law Office wishes our clients and colleagues with whom we are so fortunate to work, and our friends and family who make our lives complete, a very happy and healthy Thanksgiving!
Grabar Law Office Recognized as Top Commercial Litigation Firm
Blue Cross Blue Shield insurers tentatively agree to a $2.67 billion class settlement and sweeping anti-competitive practice reforms to settle antitrust class action suit filed by subscriber groups. https://www.law360.com/classaction/articles/1324875/bcbs-insurers-reach-2-67b-antitrust-deal-in-alabama
#litigation #compliance #antitrust
LAW360.COM
BCBS Insurers Reach $2.67B Antitrust Deal In Alabama - Law360
Grabar Law Office Files Class Action on Behalf of Retail Investors Against Certain Investment Firms and Hedge Funds for Violations of Antitrust and Consumer Protection Laws
As alleged in the complaint, several large hedge funds and investment firms, who had acquired massive “short” positions in the Relevant Securities including Gamestop (GME), AMC Theaters (AMC), American Airlines (AAL), Bed Bath & Beyond (BBBY), Blackberry (BB), Express (EXPR), Koss (KOSS) Naked Brand Group (NAKD), Nokia (NOK), Sundial Growers Inc. (SNDL), Tootsie Roll Industries (TR), and Trivago NV (TRVG), and were exposed to billions of dollars in potential losses, conspired to prevent the Retail Investors from buying any further stock and forcing Retail Investors to sell their Relevant Securities to artificially suppress stock prices of the Relevant Securities, in violation of antitrust and consumer protection laws.
To Learn more about this matter, contact us today!
Pleased to have contributed to the International Municipal Lawyers Association's (IMLA) blog regarding the role of municipalities in corporate governance with respect to diversity and inclusion.
https://imla.org/2021/01/shareholder-litigation-in-the-age-of-financial-and-social-responsibility/
IMLA.ORG
Shareholder Litigation In The Age of Financial and Social Responsibility
Grabar Law Office In The News.
Retail investors claim that the big banks have been running a conspiracy since 2006 that overcharges over-the-counter investors who trade odd lots. The investors further claim the banks simultaneously agreed to boycott electronic trading platforms that make trading more democratic.
The suit alleges that with the banks' "group boycott" of electronic trading platforms have allowed "defendants have captured, co-opted or killed efforts time and time again to bring the benefits of electronic trading to odd-lot investors," and "odd-lot investors, such as plaintiffs and the class, pay spreads that are 25% to 300% higher than institutional investors trading in larger, round-lot increments of the very same bonds."
The investors estimate their losses from inflated spreads are in the billions of dollars.
https://www.law360.com/articles/1349979/big-banks-sow-confusion-in-small-bond-suit-investors-say-
#antitrust #classaction #oddlotbonds
LAW360.COM
Big Banks 'Sow Confusion' In Small Bond Suit, Investors Say - Law360
"Shareholder Litigation in The Age of Financial and Social Responsibility" as published by Engaging Local Government Leaders (ELGL). #ELGL #SecuritiesLitigation #LocalGovernment #ClassAction #ShareholderRights #CorporateGovernance
https://elgl.org/shareholder-litigation-in-the-age-of-financial-and-social-responsibility/
ELGL.ORG
Shareholder Litigation In The Age of Financial and Social Responsibility - ELGL