Faruqi & Faruqi LLP - newshttp://www.faruqilaw.com/newsFaruqi & Faruqi LLP - newsFaruqi & Faruqi Represents Consumers Against Saks in Recent Data Breachhttp://www.faruqilaw.com/news/show/id/207 On June 8, 2018, Faruqi & Faruqi, LLP filed a class action lawsuit against Saks & Company LLC, parent company for all Saks OFF 5TH and Saks Fifth Avenue stores nationwide, regarding the massive data breach that exposed the credit and debit card information of over five million Saks customers. Faruqi & Faruqi has extensive knowledge and expertise in data breach class actions, representing consumers and shareholders nationwide in actions against Uber, Wendy’s, Arby’s, and Home Depot.
If you were affected by a data breach and have been injured as a result, please contact our attorneys to ensure that your rights are fully and speedily protected.

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Mon, 18 Jun 2018 00:00:00Alex Coviello
Court Appoints Faruqi & Faruqi, LLP Lead Counsel in Securities Class Action Against Intercept Pharmaceuticals, Inc.http://www.faruqilaw.com/news/show/id/206 On June 1, 2018, United States District Judge Lewis A. Kaplan of the United States District Court for the Southern District of New York appointed Faruqi & Faruqi, LLP to serve as Lead Counsel in DeSmet v. Intercept Pharmaceuticals, Inc., et al., No. 1:17-cv-07371-LAK.

For further inquiries regarding this matter, please contact Richard Gonnello at rgonnello@faruqilaw.com or (212) 983-9330.

A copy of Judge Kaplan’s order is linked below.

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Fri, 1 Jun 2018 00:00:00Ian Berkelaar
Court Appoints Faruqi & Faruqi, LLP Lead Counsel In Securities Class Action Against Ohr Pharmaceutical, Inc.http://www.faruqilaw.com/news/show/id/203 On May 31, 2018, Senior Judge Loretta A. Preska of the United States District Court for the Southern District of New York appointed Faruqi & Faruqi, LLP to serve as Lead Counsel in Khanna v. Ohr Pharmaceutical, Inc. et al, No. 1:18-cv-01284-LAP.

For further inquiries regarding this matter, please contact Richard Gonnello at rgonnello@faruqilaw.com or (212) 983-9330.

A copy of Judge Preska’s Order is below.

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Thu, 31 May 2018 00:00:00Ian Berkelaar
Supreme Court Denies Barclays’ Petition for Certiorari In Dark Pool Casehttp://www.faruqilaw.com/news/show/id/201 On Monday, April 30, 2018, the Supreme Court denied Barclays PLC’s (“Barclays”) petition for certiorari seeking review of the Second Circuit’s decision in Waggoner v. Barclays PLC, 875 F.3d 79 (2d Cir. 2017), affirming certification of a class of investors who sued Barclays for securities fraud tied to Barclays’ dark pool trading platform.  See Dunstan Prial, Supreme Court Won’t Hear Barclays Dark Pool Cert Appeal, Law360 (Apr. 30, 2018).  Barclays sought the U.S. Supreme Court’s review of two issues, including “[w]hether plaintiffs may invoke the fraud on the market presumption [of reliance] without direct evidence that the price of the security responded to new, material information during the class period.”  Petition for Writ of Certiorari at i, Barclays PLC, et al., v. Waggoner, et al. (Feb. 28, 2018) (No. 17-1209).  The Supreme Court’s denial of certiorari leaves the Second Circuit’s decision intact, which held, inter alia, that plaintiffs seeking class certification under the fraud on the market presumption need not always offer direct evidence of price impact in order to demonstrate market efficiency.  Waggoner, 875 F.3d at 106.

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Tue, 1 May 2018 00:00:00Raul Mondragon
Faruqi & Faruqi Defeats Motion to Dismiss in Consumer Class Action Against Canada Dry Ginger Alehttp://www.faruqilaw.com/news/show/id/200 On April 25, 2018, Judge Roseann A. Ketchmark of the Western District of Missouri denied Dr Pepper/Seven Up, Inc. and Dr Pepper Snapple Group, Inc.’s motion to dismiss in its entirety. The Court sustained plaintiff’s allegations that Defendants mislead consumers into believing their Canada Dry Ginger Ale soft drinks are “Made from Real Ginger.” A copy of the Court’s order can be found here. Partners Timothy J. Peter and Ben Heikali of Faruqi & Faruqi, LLP are heading this litigation.

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Wed, 25 Apr 2018 00:00:00Alex Coviello
Peter 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 00:00:00
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