$19.60 per client; $28M for lawyers; imbalance of Synthroid settlement is challenged by two state AGs

Article Abstract:

A class action against Synthroid makers charges the drug's makers with suppressing for more than 7 years a medical study concluding that the generic equivalent of the drug worked just as well. Plaintiffs are charging the settlement's proposed payment of $19.60 for each client and $28 mil for the lawyers is grossly unfair and even insurance companies complain that the deal's terms keep them from suing for the large amounts they paid in pharmaceutical claims for the insured. About 65 suits have been filed seeking treble damages under the antitrust, civil RICO and state consumer protection laws since 1996.

United States, Pharmaceutical industry, Generic drugs, Synthroid (Medication)

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ABA Task Force pushes for freeze on OTS' powers

Article Abstract:

A group of 29 ABA members has released a report complaining about abuse of power by the Office of Thrift Supervision in its suits against law firms involved in savings and loan failures. Recalling the asset freeze against New York's Kaye, Scholer, Fierman, Hays and Handler, former counsel to Lincoln Savings, the report suggests requiring a court order before freezing the assets of counsel to failed thrifts and only permitting such a freeze if there is evidence the defendant will dissipate the assets.

Law firms, Powers and duties, Savings and Loan Associations Bailout Crisis, 1987-, United States. Office of Thrift Supervision

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