Avandia ERISA Class Actions Consolidated

Law360, New York (October 11, 2010, 12:36 PM EDT) -- A federal judge has consolidated proposed class actions brought by retirement plan participants against GlaxoSmithKline PLC that allege the company and its directors breached their fiduciary duties by concealing the risks of diabetes drug Avandia, which caused the value of the plans' investments to plummet.

Judge Alvin K. Hellerstein of the U.S. District Court for the Southern District of New York decided Friday to consolidate the suits brought by Charles J. Gum and Marilyn S. Hayes and to name the law firms who filed the Employee...
To view the full article, register now.