September 13, 2007 at 08:45:44

Studies Find More Health Risks With Avandia

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By Evelyn Pringle (about the author) Page 4 of 4 page(s)

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In a June 11, 2007 press release, the New York law firm of Kaplan Fox & Kilsheimer announced the filing of a shareholder's lawsuit alleging the company misled investors about the safety of Avandia and failed to disclose an analysis of clinical trials which found that Avandia patients were at an increased risk of heart attacks and "engaged in a scheme to deceive the market" with conduct that "artificially inflated GSK's stock price" and "as a result plaintiff and other members of the class suffered economic loss."

A month later, Charles H Johnson & Associates issued a July 13, 2007 press release to announce that a class action had been filed in the US District Court for the Southern District of New York on behalf of purchasers of Glaxo publicly-traded securities during the class period October 27, 2005 through May 21, 2007, with similar allegations.

Glaxo's July 25, 2007 press release also reports the filing of more lawsuits. "Following publication of the NEJM article," it states, "the Group has been named in product liability lawsuits on behalf of individuals and purported class action cases asserting consumer fraud and/or personal injury claims on behalf of purchasers and users of Avandia."

"All these actions are pending in federal district courts in the USA and all are at early stages," Glaxo noted in the press release.

Persons seeking legal advice regarding Avandia can contact the Baum Hedlund Law Firm at: (800) 827-0087; http://www.baumhedlundlaw.com/
http://www.avandia-heart-lawyers.com/.

Evelyn Pringle
evelyn-pringle@sbcglobal.net

(Evelyn Pringle is a columnist for OpEd News and an investigative journalist focused on exposing corruption in government and corporate America)

(This article is part of the Avandia Update series sponsored by Baum Hedlund)

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