GSK Sets Up Fund To Resolve Poligrip Suits

Law360, New York (August 2, 2010, 4:51 PM EDT) -- GlaxoSmithKline PLC has established a settlement fund in multidistrict litigation over its Super Poligrip denture adhesive, which formerly included zinc in amounts that plaintiffs claimed could lead to neurological disorders and other problems.

On Wednesday, the U.S. District Court for the Southern District of Florida appointed The Garretson Firm Resolution Group Inc. as fund administrator. The fund shall be held at Citibank NA, the court ordered.

GlaxoSmithKline has also announced in its financial statements that the company has reached an agreement in principle to settle the...
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