Superior Court Judge Evelio Grillo for the County of Alameda, who oversees the California Ranitidine Product Cases Judicial Council Coordinated Proceedings (JCCP), has set a trial date of October 10, 2022, for the first cancer case trial. Drug makers Sanofi, GlaxoSmithKline, Pfizer, Boehringer Ingelheim, and Chattem will move forward as defendants. Although the JCCP functions similarly to a federal multidistrict litigation (MDL), these cases are adjudicated within the California state court system.
As of September 28, 2021, a total of 93 class actions had been filed against Continuous Positive Air Pressure (CPAP) maker Philips Respironics. The Judicial Panel on Multidistrict Litigation announced it will hear motions to consolidate or coordinate pretrial proceedings for these lawsuits.
The Levin Papantonio Rafferty law firm currently represents customers in claims to recover their investment losses in CION Investment Corp. On Tuesday, October 5, the shares of CION Investment Corp. began trading on the New York Stock Exchange under the ticker “CION.” Unfortunately for investors, shares closed trading on October 5 at $11.85 – representing a loss of over 40% of the principal for investors who purchased shares of CION at $10/share (shares underwent a reverse share split in September, resulting in an approximate halving of investors shares).
The U.S. Food and Drug Administration (FDA) issued a Drug Safety Communication (DSC) regarding the arthritis and ulcerative colitis drug Xeljanz (and Xeljanz XR), otherwise known as tofacitinib. After studying the results of a large, randomized safety clinical trial of the medicine, the agency stated there was evidence of “serious heart-related events,” including heart attack, stroke, cancer, blood clots, and death.
Claims Filed Regarding Former Sarasota Financial Advisor Marc Korsch for Sale of Allegedly Speculative and High-Risk REITs and Illiquid Investments to Retirees
The Levin Papantonio Rafferty law firm announced today that it has filed claims on behalf of retiree investors who are former clients of Sarasota-area Financial Advisor Marc Korsch and NAV Advisors. According to his FINRA Brokercheck report, Mr. Korsch’s securities registration terminated last week on Friday, September 3 – which may leave clients stuck with illiquid investments that they cannot sell.
The Securities and Exchange Commission has filed a complaint against MJ Capital Funding, LLC, MJ Taxes and More Inc. and Johanna M. Garcia, the owner of MJ Capital Funding and MJ Taxes, for allegedly running a Ponzi scheme. On August 13, 2021, the SEC announced that it filed an emergency action and obtained a temporary restraining order, an asset freeze, and the appointment of a receiver to stop the misappropriation of funds allegedly carried out by Garcia and the entities she controls.
Investors in Moody National REIT II may have suffered devastating losses. Moody announced that its Board had decided to postpone the valuation of Moody National REIT II shares on August 5, 2021. In the past Moody declared its updated NAV at the end of the calendar year, but Moody has yet to update its NAV since December 2019.
The U.S. Food and Drug Administration (FDA) issued notice that Philips Respironics recalled its V60 Plus Ventilators Equipped with High Flow Therapy (software version 3.00 and 3.10) and all V60 ventilators that have been upgraded to enable High Flow Therapy with this software. The manufacturer distributed the affected devices between May 1, 2009, and June 2, 2021.
UC San Diego Health announced on July 27, 2021, that the health care provider experienced unauthorized access to employee email accounts. According to a press release issued on this date, patients’ continuity of care did not suffer as a result of the security event.
Parking REIT investors may have suffered losses of over 75% of their investment principal, based on recent tender offers of less than $6.00 per share made by MacKenzie Capital Management. Furthermore, data from limited secondary trading data sources shows a sale in June 2020 for amounts as low as $5.01 per share. The Parking REIT’s board estimated the share value at $11.75 as recently as June 2021, but even if that share value estimated was correct investors who paid $25.00 per share may have lost over 50% of their investment principal.
Atlas Growth Partners LP was a high risk limited partnership dedicated to developing and producing natural gas, crude oil and NGLs. Based on Atlas Growth Partner’s SEC Filings, investors who were sold Atlas Growth Partners may have lost almost 99% of their investment principal. Atlas Growth Partners recently disclosed in a filing with the SEC that there were “significant risks and uncertainties related to our inability to satisfy our current liabilities raise substantial doubt about our ability to continue as a going concern.
Investors who purchased shares of Didi Global, the Chinese ride-sharing company, may have the right to file their own claim to recover their losses. While there are currently uncertified class actions that have been filed, securities class actions frequently result in notoriously small settlements as a percentage of the damages suffered by class members.
Complex ETF Lawsuit – Brokers May Be Liable for Unsuitable Recommendations Including Inverse and Leveraged ETFs
If your broker recommended you invest in complex, non-traditional, leveraged, or inverse ETFs, you may have a right to bring a claim to recover losses you may have suffered.
Phillips Respironics has issued a voluntary recall of around 4 million CPAP and BiLevel PAP devices. According to the manufacturer’s notification, the company’s quality management system revealed these products pose serious health risks and potentially life-threatening injuries for users.
The first-generation DreamStation product family comprises the Philips medical devices most affected by the recall.
If your broker recommended you invest in FS Investment Corporation II, you may have a legal claim to recover losses you have suffered.
MSC Income Fund, formerly known as HMS Income Fund, is a principal investment fund that works to provide debt and equity financing solutions primarily to private U.S. companies. According to Hines Securities’ website, a new advisory agreement approved by HMS Income fund’s shareholders, the subsidiary of Main Street Capital Corporation that had been serving as the Fund’s sub-advisor is now the sole investment advisor and administrator of the Fund. Because of this transaction, HMS Income Fund is now known as MSC Income Fund, Inc.
Healthcare Trust Inc. is a publicly registered non-traded REIT (real estate investment trust) that was sponsored by AR Global. Healthcare Trust Inc. was originally known as American Realty Capital Healthcare Trust II, Inc. Healthcare Trust was a high risk investment, and it should have only been recommended to investors who could afford a complete loss of their investment. Brokers and brokerage firms who did not conduct appropriate due diligence or unsuitably recommended their clients invest in Healthcare Trust Inc. may be liable for losses suffered by investors
Winning the War on Opioids: A Behind the Scenes Look at The Largest and Most Complex Deal In The History of Jurisprudence
In a deal the Washington Post called “the largest civil action in U.S. history,” the terms for the formal global settlement agreement with opioid manufacturer Johnson & Johnson (J&J) and the “Big Three” drug distributors AmerisourceBergen, Cardinal Health, and McKesson were just announced.
J.D. Phillips Jr, Previously Registered Broker From MetLife Securities, Accused of Unfair and Deceptive Trade Practices
J.D. Phillips, whose full name is John Dalton Phillips, Jr., previously registered broker with MetLife Securities, Inc., is the subject of multiple customer disputes, according to BrokerCheck, an online broker research online tool offered by Financial Industry Regulatory Authority (FINRA).
Five of these disputes have been resolved, and four remain pending.
Previously Registered Investment Adviser Jeffrey Raymond Dixson Allegedly Made Unsuitable Investment Recommendations
Financial Industry Regulatory Authority (FINRA) has published a BrokerCheck report on previously registered broker and investment adviser Jeffrey Raymond Dixson, showing multiple customer disputes and one regulatory dispute.
As of this writing, Dixson has been the subject of 20 customer disputes, nine of which are still pending. He also faced a regulatory dispute in 2007.