Faruqi & Faruqi LLP - newshttp://www.faruqilaw.com/newsFaruqi & Faruqi LLP - newsPeter Kohn speaks at the ABA Section of Antitrust Law’s 66th Annual Spring Meetinghttp://www.faruqilaw.com/news/show/id/199 Peter Kohn was an invited speaker at the Antitrust Magazine and Health Care & Pharmaceuticals Committee program, Reverse Payment Settlements: Explaining “Large And Unexplained” on April 11 at the ABA Section of Antitrust Law’s 2018 Spring Meeting in Washington, D.C.  In FTC v. Actavis, the Supreme Court ruled that a “large and unexplained” payment from brands to generics may be evidence of anticompetitive conduct.  The program examined post-Actavis lower-court decisions that have shed contradictory views.  Mr. Kohn was joined by Lisa A. Jose Fales of Venable LLP (who moderated the program), C. Scott Hemphill of  New York University School of Law, John H. Johnson of Edgeworth Economics, Markus H. Meier of the Federal Trade Commission, and Karen N. Walker of Kirkland & Ellis LLP.  Mr. Kohn spoke from the perspective of direct purchasers and consumers about how pay-for-delay settlements harm competition and the rules courts apply in finding them illegal and awarding damages.  Mr. Kohn was last invited to speak at the Section of Antitrust Law’s Spring Meeting in 2016, on the topic of exclusionary product “hopping” and FDA REMS (risk evaluation and mitigation strategy) abuse.

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Fri, 13 Apr 2018 00:00:00Alex Coviello
Faruqi & Faruqi Announces Preliminary Approval Of Derivative Settlement In Kleinfeldt v. Sharing, et al. on Behalf of Natural Health Trends And Its Shareholdershttp://www.faruqilaw.com/news/show/id/197 Faruqi & Faruqi, LLP, is pleased to announce that the Honorable Terry J. Hatter, Jr. of the United States District Court of the Central District of California has preliminarily approved a settlement in Kleinfeldt v. Sharing, et al., Case No. 2:16-cv-01547.  The settlement provides for extensive corporate governance in exchange for the release of all claims alleged in the action.  As a result, notice will be filed by Natural Health Trends Group, Inc. (“NHTG” or the “Company”) with the Securities and Exchange Commission in a Form 8-K, published via a Company press release, and posted, together with the Stipulation of Settlement on the Company’s website to advise shareholders who owned NHTC common stock as of March 9, 2018, and continue to own such shares, of their right to object to the settlement.  The final fairness hearing is scheduled for July 16, 2018.

If you owned NHTC common stock as of March 9, 2018, and continue to own such shares, and would like to discuss your legal rights, call Faruqi & Faruqi partner, Stuart J. Guber,  at 212-983-9330 or send an e-mail to sguber@faruqilaw.com.

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Thu, 5 Apr 2018 00:00:00Raul Mondragon
Faruqi & Faruqi, Co-Lead Counsel, Obtains Final Court Approval Of Shareholder Derivative Action Settlement On Behalf Of Chipotle Mexican Grill, Inc. And Its Shareholdershttp://www.faruqilaw.com/news/show/id/198 On April 4, 2018, the Honorable William J. Martinez, of the United States District Court of the District of Colorado granted final approval of the proposed settlement of the two federal court consolidated derivative cases: Gubricky v. Ells, et al., Civil Action No. 16-cv-2011-WJM-KLM, and Lashkari v. Ells, et al., Civil Action No. 16-cv-3180-WJM-KLM (the “Federal Court Derivative Action”).  The state court consolidated derivative cases styled as In re Chipotle Mexican Grill, Inc. Derivative Litigation, No. 2:16-cv-01250 RSL (W.D. Wash.), will be dismissed by stipulation within five (5) business days of entry of judgment in the Federal Court Derivative Action. Faruqi & Faruqi, as co-lead counsel in the Federal Court Derivative Action, represents stockholders of Chipotle Mexican Grill, Inc.  The settlement provides for extensive corporate governance reforms directly connected to issues raised in the Complaint including the creation of a Food Safety Advisory Council governed by written charter and led by the Executive Director, Food Safety, and comprised of independent consulting experts in food safety dedicated to evaluating and making recommendations regarding food safety. Partners Stuart J. Guber and Nina Varindani headed the successful litigation.

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Thu, 5 Apr 2018 00:00:00Joshua Binder
Faruqi & Faruqi Settles Lidoderm Antitrust Litigation For $166 Millionhttp://www.faruqilaw.com/news/show/id/196 Faruqi & Faruqi’s Peter Kohn was at the helm for direct purchasers during the lengthy and complex “pay for delay” antitrust case known as the Lidoderm Antitrust Litigation, pending in the United States District Court for the Northern District of California.  The case resulted in a proposed settlement amounting to $166 million for the direct purchaser class, and generated several scholarly decisions by the Honorable William H. Orrick, III, including on the issue of attorney-client privilege waivers, class certification, and summary judgment in a “pay for delay” case.  The settlement is yet another success for the Faruqi firm, who are on the forefront of pharmaceutical antitrust enforcement, and who were years ahead of the United States Federal Trade Commission in investigating, bringing suit, and obtaining monetary relief over the Lidoderm “pay for delay” deal.

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Fri, 23 Mar 2018 00:00:00Alex Coviello
Faruqi & Faruqi Defeats Motion to Dismiss in Consumer Data Breach Class Action Against Arby's Restaurant Group Inc.http://www.faruqilaw.com/news/show/id/195 On March 5, 2018, United States District Court Judge Amy Totenberg of the Northern District of Georgia denied the majority of Arby's Restaurant Group Inc.'s ("Arby's") motion to dismiss. In its carefully considered 56-page opinion, the Court upheld a majority of the consumer plaintiffs' claims alleging that Arby's failed to take reasonable care in protecting consumers' credit card information. Faruqi & Faruqi Partners Robert W. Killorin, Timothy J. Peter, and Stuart J. Guber served as Co-Lead Counsel for the consumer plaintiffs. This victory follows Faruqi & Faruqi's recent and historic data breach settlement against The Home Depot, Inc

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Tue, 6 Mar 2018 00:00:00Alex Coviello
Faruqi & Faruqi, Co-Lead Counsel, Obtains Final Court Approval Of Shareholder Derivative Action Settlement On Behalf Of CTI Biopharma, Corp. And Its Shareholdershttp://www.faruqilaw.com/news/show/id/194 On January 31, 2018, the Honorable Douglas North of the King County Superior Court in the state of Washington granted final approval of the proposed settlement of the two state court consolidated derivative cases: Hammond v. Bianco, et al., No. 16-2-05818-3, and Eley v. Bianco, et al., No. 16-2-14422-5 (the “State Court Derivative Action”).  The federal court consolidated derivative cases styled as In re CTI Biopharma Shareholder Derivative Action, No. 2:16-cv-01250 RSL (W.D. Wash.) (the “Federal Derivative Action”), will be dismissed by stipulation and order when the judgment in the State Court Derivative Action becomes final. F&F, as co-lead counsel in the Federal Court Derivative Action represents stockholders of CTI BioPharma, Corp.  The settlement provides for extensive corporate governance reforms directly connected to issues raised in the Complaint including the creation of a Risk Compliance Officer position and the engagement of an independent expert or entity to conduct yearly audits of the company’s compliance with Good Clinical Practices.  Partner Stuart Guber headed the successful litigation.

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Thu, 8 Feb 2018 00:00:00Alex Coviello
Faruqi & Faruqi Obtains Final Court Approval Of $13 Million Settlement On Behalf Of Shareholders Of Avalanche Biotechnologies, Inc.http://www.faruqilaw.com/news/show/id/193 Faruqi & Faruqi is pleased to announce that on January 19, 2018, the Honorable Marie S. Weiner, Judge of the California Superior Court of San Mateo County, granted final approval of the global settlement reached in In re Avalanche Biotechnologies Securities Litigation, No. 15-cv-03185 (JD) (N.D. Cal.) and the parallel action In re Avalanche Biotechnologies Shareholder Litigation, CIV536488 (San Mateo Cnty. Super. Ct.).  The settlement provides for a cash payment of $13,000,000 in exchange for plaintiffs’ release of all claims alleged in the actions.  This is an excellent recovery for the class and constitutes a material percentage of the likely provable damages suffered during the Class Period.

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Tue, 23 Jan 2018 00:00:00Alex Coviello
Faruqi & Faruqi Obtains Final Court Approval Of $2.95 Million Settlement In Rihn v. Acadia Pharmaceuticals, Inc. et al., 15-cv-00575-BTM-DHB (S.D. Cal.)http://www.faruqilaw.com/news/show/id/192 On January 8, 2018, the Honorable Barry Ted Moskowitz, Chief Judge of the United States District Court for the Southern District of California, granted final approval of the settlement reached in Rihn v. Acadia Pharmaceuticals, Inc. et al.  Faruqi & Faruqi served as sole Lead Counsel on behalf of the Class.  The settlement provides for a cash payment of $2.95 million in exchange for plaintiffs’ release of all claims alleged in the action.  As the Court noted during the final approval hearing held on January 8, 2018, the settlement is an excellent result for the Class.

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Mon, 8 Jan 2018 00:00:00Raul Mondragon
Katherine Lenahan, Megan Sullivan and Nina Varindani are now partners of the firm.http://www.faruqilaw.com/news/show/id/191 Faruqi & Faruqi is proud to announce that Katherine Lenahan, Megan Sullivan and Nina Varindani have all been made partners of the Firm. 

Congratulations!

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Mon, 1 Jan 2018 00:00:00Alex Coviello
Innessa M. Huot made Partner with the Firmhttp://www.faruqilaw.com/news/show/id/190 Faruqi & Faruqi is proud to announce that Innessa Melamed Huot is now a partner with the Firm.  Innessa heads the employment practice group and represents employees across the country in individual and wage and hour class action litigation.

Congratulations Innessa!

 

 

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Wed, 25 Oct 2017 00:00:00Alex Coviello