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Pomerantz Law Firm Has Filed a Class Action
Headline Court News |
2011/12/18 11:28
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Shareholders of Pain Therapeutics, Inc. are reminded of the securities class action lawsuit filed against Pain Therapeutics and certain of its officers. The class action (1-11-CV-1034), filed in the United States District Court, Western District of Texas, is on behalf of a class consisting of all persons or entities who purchased PTIE securities during the period from February 3, 2011 through June 23, 2011 (the Class Period). This class action is brought under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, 15 U.S.C. Sections 78j(b) and 78t(a); and SEC Rule 10b-5 promulgated thereunder by the SEC, 17 C.F.R. Section 240.10b-5.
If you are a shareholder who purchased PTIE securities during the Class Period, you have until January 31, 2012 to ask the Court to appoint you as lead plaintiff for the class. A copy of the complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Rachelle R. Boyle at rrboyle@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll free, x350. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.
The Complaint alleges that, during the Class Period, PTIE made false and/or misleading statements and/or failed to disclose material facts about a new drug, REMOXY. Specifically, PTIE failed to disclose that REMOXY was not approvable by the U.S. Food and Drug Administration due to chemistry, manufacturing, and control deficiencies that caused inconsistent results during laboratory tests. |
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Phil Spector to take appeal to US Supreme Court
Headline Court News |
2011/12/16 09:37
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A lawyer for imprisoned music legend Phil Spector is asking the U.S. Supreme Court to review his murder conviction, arguing his constitutional rights were violated by the trial judge.
Attorney Dennis Riordan contends that Superior Court Judge Larry Paul Fidler became a witness for the prosecution by offering his opinion on an expert's testimony.
The filing was expected to reach the court Friday. It cites the prosecution's use of the judge's videotaped comments and his picture during prosecution summations.
The same arguments were made to state appellate justices, who refused to consider them because of a belated filing. They upheld Spector's second-degree murder conviction in the death of actress Lana Clarkson.
The California Supreme Court declined to review the case. |
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Throng of Occupy protesters appear in NY courts
Headline Court News |
2011/12/15 13:03
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Nearly 200 people arrested during Occupy Wall Street-related protests were in New York courtrooms hundreds of miles apart Wednesday, answering charges that stemmed from a march on the Brooklyn Bridge and a demonstration in a Rochester park.
In Manhattan, arraignments were under way for 166 people, most of them among the more than 700 picked up in an Oct. 1 march that marked the biggest mass arrest of the New York protest so far. Hundreds of other protesters arrested on the bridge and during other Occupy demonstrations in the city have already been to court, but this week's numbers are some of the biggest.
Meanwhile, 28 Occupy Wall Street supporters were set to appear in a Rochester court on charges of trespassing by staying in a park past its curfew.
Some wearing their Occupy Wall Street allegiance on buttons — and in one case, a hand-painted oxford shirt — lined hallways and an overflow courtroom in a Manhattan courthouse that handles low-level offenses. Many had been arrested on the bridge after police said protesters ignored warnings not to leave a pedestrian path and go onto the roadway.
The demonstrators were generally charged with disorderly conduct and blocking traffic, both violations. Many took a judge's offer Wednesday to get their cases dismissed if they avoid getting arrested again for six months. |
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Court to look at overtime pay for drug sales reps
Headline Court News |
2011/11/28 09:43
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The Supreme Court has agreed to consider whether pharmaceutical sales representatives can bill their employers for overtime, a case that could affect the pay of tens of thousands of people.
The court said Monday that it will review a federal appeals court ruling that held the sales reps do not qualify for overtime under federal labor law. Other appeals courts have ruled differently and the pharmaceutical industry joined in the call for Supreme Court review.
The sales reps meet with physicians in the hope that doctors will prescribe one company's medicine over another's. Two salesmen who once worked for drug maker GlaxoSmithKline filed a class-action lawsuit claiming that they were not paid for the 10 to 20 hours they worked each week on average outside the normal business day. |
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