If you purchased stock in RenaissanceRe Holdings Ltd. (NYSE: RNR) between January 24, 2002 and July 25, 2005, you may be eligible to participate in a class action lawsuit brought in New York by the law offices of Brian M. Felgoise, P.C. The case is pending in the United States District Court for the Southern…
Monthly Archives: July 2005
Cyberonics Sued
Cyberonics, the medical device manufacturer trying to get FDA approval for its vagus nerve implant to be used to treat depression, was sued on June 17 in the United States District Court for the Southern District of Texas. If you bought Cyberonics stock between June 15, 2004, and October 1, 2004, you may be eligible…
Weiss Lawsuits Under Scrutiny
In a not so indirect manner, the many class action lawsuits filed by the Milberg Weiss law firm are under close scrutiny by the U. S. Attorney’s Office in Los Angeles. This comes as part of a 67-page indictment handed down June 23 against San Diego attorney Bill Lerach, once a prime pump for Weiss’s…
Another Vioxx class action approved
From the Los Angeles Times: A New Jersey judge ruled that health plans that paid for members’ Vioxx prescriptions can sue drug maker Merck & Co. as a class to recover billions of dollars they spent on the recalled painkiller. Superior Court Judge Carol E. Higbee in Atlantic City granted a motion filed by a…
Ameriquest settlement of $325 million
Here’s the latest on Ameriquest: Ameriquest Capital Corp. has set aside $325 million for potential settlement agreements with 30 states over investigations into its lending practices, the company announced Thursday. Ameriquest, which lends to people with poor credit and modest incomes, has been dogged by consumer complaints and lawsuits accusing the company of fraud and…
HealthSouth settles class action
HealthSouth, “working to recover from massive accounting fraud,” is accountable now for a$25 million settlement: Under the terms of the settlement, HealthSouth will contribute $7 million and its insurance carriers will pay $18 million to its employee stock benefit plan to settle the dispute. Neither HealthSouth, nor its insurance carriers, have admitted or denied the…
Reliant Energy pays $68 million
Reliant Energy today agreed to pay $68 million to settle a shareholder class action: HOUSTON (AP) — Electricity provider Reliant Energy Inc. said Friday it agreed to settle all shareholder class action lawsuits related to alleged securities laws violations for certain trading activities that took place between 1991 and 2001. The suits were consolidated in…
U. of Minnesota doctor at center of Vioxx suits
Jeremy Olson of the St. Paul Pioneer Press is reporting that a “University of Minnesota physician may be key to the more than 4,200 lawsuits against the maker of Vioxx, because court records suggest the company retaliated when he offered early warnings of the drug’s danger.” Dr. M. Thomas Stillman was warning of potential cardiac…
Sen. Specter says no asbestos vote soon
The latest on the asbestos bill… WASHINGTON (Reuters) – A bill to create a $140 billion asbestos compensation fund is not expected to come up on the Senate floor before the August recess, the legislation’s co-author, Sen. Arlen Specter, said on Wednesday. “It does not look at this point as if the majority leader is…
Settlements at All Time High!
According to the New York-based NERA Economic Consulting, a New York-based international firm of economists that tracks securities class action cases, settlements in shareholder class action lawsuits have reached an all-time high level. However, new filings are down by 17% for the first half of 2005, according to a NERA study. The economists also predict…