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August 31, 2009
SAN FRANCISCO - Citing the small number of objectors and saying that an $89 million settlement of consumer claims over Pfizer Inc.’s painkillers Bextra and Celebrex was far less than what plaintiffs thought the claims were worth but far more than Pfizer acknowledged, plaintiffs’ attorneys on Aug. 14 filed a motion for final approval of a class (In Re: Bextra and Celebrex Marketing Sales Practices and Product Liability Litigation, MDL Docket No. 1699, No. M:05-CV-1699, N.D. Calif.; See July 2009, Page 4).
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WEST PALM BEACH, Fla. - Insurers have no duty to defend a homeowners association or its management company against an underlying suit alleging that an individual contracted a virus from contaminants in pool water because a pollution exclusion included in both insurers’ policies applies to preclude coverage for the contaminant in the swimming pool, a Florida federal judge said Aug. 17 (First Specialty Insurance Corp, v. GRS Management Associates Inc., et al., No. 08-81356, S.D. Fla.; 2009 U.S. Dist. LEXIS 72708).
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NEW YORK - A group of attorneys and human rights, labor, legal and media organizations lack standing to bring a constitutional challenge to the FISA (Foreign Intelligence Surveillance Act of 1978) Amendments Act of 2008 (FAA), a New York federal judge ruled Aug. 20 granting the federal government’s motion for summary judgment (Amnesty International USA, et al. v. John McConnell, et al., No. 08-6259, S.D. N.Y.; 2009 U.S. Dist. LEXIS 74008; See September 2008, Page 11).
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Case: State of California v. Continental Insurance Co., et al., No. S170560, Calif. Sup. Opening brief: Filed April 17 by Continental Insurance Co, Continental Casualty Co, Yosemite Insurance Co, Stonebridge Life Insurance Coand Employers Insurance Company of WausauBrief available 50-090827-028B
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CARSON CITY, Nev. - An insurer beached the covenant of good faith and fair dealing by not informing its policyholder of an interpleader settlement offer, a majority of the Nevada Supreme Court ruled July 30, affirming in part a lower court’s judgment in favor of the insured (Allstate Insurance Co. v. William Miller, No. 49760, Nev. Sup.; 2009 Nev. LEXIS 37).
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AUBURN HILLS, Mich. - Chrysler Group LLC announced Aug. 27 that the company will accept product liability claims on vehicles manufactured by Chrysler LLC - now OldCarco LLC - before June 10, 2009, and involved in accidents on or after that date.
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CINCINNATI - A woman whose claims that Wyeth’s diet drugs caused the deadly lung disease primary pulmonary hypertension (PPH) were dismissed based on Tennessee’s one-year statute of repose lost her appeal today in the Sixth Circuit U.S. Court of Appeals (Angela Montgomery v. Wyeth, et al., No. 08-5701, 6th Cir.).
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RICHMOND, Va. - A federal magistrate judge on Aug. 24 granted in part Countrywide Home Loan Inc.’s second motion for summary judgment and dismissed a Virginia couple’s request for damages under the Real Estate Settlement Procedures Act (RESPA) because the company properly responded to a qualified written request sent by the couple and because their subsequent letter seeking information about their account was not a qualified written request (Dannie R. Carter, et al. v. Countrywide Home Loans Inc., et al., No. 07CV651, E.D. Va.; 2009 U.S. Dist. LEXIS 75247; See April 2009, Page 12).
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TYLER, Texas - A Texas trial court had jurisdiction to hear the request for presuit deposition of a man with allegedly terminal silica-related cancer, but it abused its discretion in ordering the deposition without having competent evidence to support the request before it, a state appellate panel held Aug. 17 in granting the prospective defendant’s mandamus petition (In re: Contractor’s Supplies, Inc., No. 12-09-00231-CV, Texas App., 12th Dist.; 2009 Tex. App. LEXIS 6396).
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NEW YORK, Aug. 31, 2009 (GLOBE NEWSWIRE) — Levi & Korsinsky is investigating the Board of Directors of NYFIX, Inc. (”NYFIX” or the “Company”) (Nasdaq:NYFX) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to NYSE Euronext, Inc. (NYSE:NYX). Under the terms of the agreement, NYFIX shareholders will receive $1.675 in cash for each share of NYFIX they own for a total transaction value of approximately $144 million, including preferred stock consideration.
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