Spector, Roseman & Kodroff, P.C. Files Class Action Suit Against Schering-Plough, Upsher-Smith Laboratories, and American Home Products.Business Editors/Legal Writers PHILADELPHIA--(BUSINESS WIRE)--April 10, 2001 The law firm of Spector, Roseman & Kodroff, P.C., announces that a class action lawsuit class action lawsuit A lawsuit in which one party or a limited number of parties sue on behalf of a larger group to which the parties belong. For example, investors may bring a class action lawsuit against a brokerage firm that has actively promoted a tax has been commenced in the United States District Court for the District of New Jersey The United States District Court for the District of New Jersey is the Federal district court whose jurisdiction is the state of New Jersey. It was established in 1789. New Jersey is the largest state by population to only have one District Court. The Honorable Garrett E. against Schering-Plough Corporation ("Schering-Plough") (NYSE NYSE See: New York Stock Exchange :SGP SGP Singapore (ISO Country code) SGP Schering-Plough (stock symbol) SGP Stability and Growth Pact SGP Southern Great Plains SGP Staatkundig Gereformeerde Partij SGP Speedway Grand Prix ), Upsher-Smith Laboratories ("Upsher-Smith"), and American Home Products Corp. ("American Home Products") (NYSE:AHP AHP Assistant House Physician. ), on behalf of a nationwide class of end-users who, since June 17, 1997, have purchased K-Dur 20, a brand-name drug prescribed by doctors for patients with certain heart troubles. The complaint charges that Schering-Plough entered into unlawful agreements with Upsher-Smith and American Home Products under which Upsher-Smith and American Home Products agreed not to introduce cheaper generic versions of K-Dur 20 in exchange for payments totaling $90 million. According to the complaint, the purpose and effect of these agreements was to protect Schering-Plough's control over the market for potassium chloride, in violation of federal antitrust laws and as well as the unfair trade practices acts of many states. Plaintiff seeks reimbursement for consumers who, without this lower-priced generic competition, have been forced to purchase Schering-Plough's more expensive product at artificially inflated prices. On March 30, 2001, the Federal Trade Commission ("FTC FTC See Federal Trade Commission (FTC). ") filed a complaint against the defendants alleging that their conduct violates Section 5 of the Federal Trade Commission Act, 15 U.S.C. Section 45. The FTC estimates the harm to consumers caused by this illegal action at over $100 million. The plaintiff is the United Food and Commercial Workers The United Food and Commercial Workers International Union is a labor union representing approximately 1.4 million workers in the United States and Canada in many industries, including agriculture, health care, meatpacking, poultry and food processing, manufacturing, textile and Local 56 Health & Welfare Fund, which provides quality medical coverage to over 15,000 participants and beneficiaries in New Jersey, Pennsylvania and Delaware. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel Eugene A. Spector, toll-free, at 888-844-5862 or via E-mail at classaction@spectorandroseman.com. For more detailed information about the firm please visit its website at http://www.spectorandroseman.com. SPECTOR, ROSEMAN & KODROFF, P.C., located in Philadelphia, Pennsylvania and San Diego, California “San Diego” redirects here. For other uses, see San Diego (disambiguation). San Diego is a coastal Southern California city located in the southwestern corner of the continental United States. As of 2006, the city has a population of 1,256,951. , concentrates its practice in complex litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. including actions dealing with securities laws, antitrust, contract and commercial claims. The firm is active in major litigation pending in federal and state courts throughout the United States. The firm's reputation for excellence has been recognized on repeated occasions by courts which have appointed the firm as lead counsel in numerous major class actions involving violations of the federal securities laws and the federal antitrust laws. As a result of the efforts of the firm, and its members, hundreds of millions of dollars have been recovered on behalf of thousands of defrauded shareholders, companies, and consumers. SOURCE: SPECTOR ROSEMAN & KODROFF |
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