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TOP NEWS
IRhythm Inks $45M Deal With Investors In Heart Device Suit
By Gina Kim
IRhythm Technologies Inc. investors asked a California federal judge to preliminarily greenlight a $45 million settlement resolving allegations the digital healthcare company inflated stock prices with misrepresentations about its heart-event monitoring device, noting the deal is a favorable result that warrants approval, given the possibility of no recovery.
Settlement attached |
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Health Funds Ink $5.5M Generic Drugs Deal With Breckenridge
By Matthew Santoni
A proposed class of end-payers who allegedly overpaid for generic drugs have asked a federal court for preliminary approval of a $5.5 million settlement with Breckenridge Pharmaceutical Inc., though notifying class members and seeking final approval would wait until the process could be combined with another settlement, the plaintiffs said Thursday.
Brief attached |
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ENFORCEMENT & COMPLIANCE
Ex-Trader Accused Of Profiting From Cousin's Insider Info
By Gina Kim
A retired New York Mercantile Exchange trader is charged with insider trading by securities regulators who allege he bought shares of Sanofi's biopharmaceutical unit Kadmon Holdings Inc. based on confidential information the trader received about Kadmon's flagship chronic graft-versus-host disease treatment drug in July 2021, and that the trader tipped off a friend about the information.
Complaint attached |
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LITIGATION
JPML Denies Industrywide Spinal Device Injury MDL Bid
By Gianna Ferrarin
The Judicial Panel on Multidistrict Litigation declined to consolidate dozens of product liability cases over spinal cord stimulator devices manufactured by Boston Scientific Corp., Abbott Laboratories, Nevro and Medtronic, finding Friday that while centralization of the actions against Boston Scientific was appropriate, an industrywide action was not.
Order attached |
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Roundup
UK Litigation Roundup: Here's What You Missed In London
By Megan Norcott
The past week in London has seen the U.K.'s oldest Indian restaurant launch an appeal against King Charles III's property company in an effort to stop its eviction, trustees of a bankrupt former EY tax partner file a claim against his wife, and 37 leading insurers bring a lawsuit against agrichemical company Syngenta over an insurance dispute. Here, Law360 looks at these and other new claims in the U.K.
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