Avandia Probes Lead To ERISA Class Suit Against GSK

Law360, New York (August 30, 2010, 2:31 PM EDT) -- GlaxoSmithKline PLC is in hot water again over its diabetes drug Avandia, this time with a putative class of retirement plan participants who say the company and its directors breached fiduciary duty by concealing the drug's risks, causing the value of the plans' investments to plummet.

GSK's leaders mismanaged assets under the Employee Retirement Income Security Act by actively working to conceal evidence that Avandia carried an increased risk for heart attack and stroke, according to a complaint lodged Friday in the U.S. District Court for...
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