Rock Creek Pharmaceuticals Inc. (fka RCPIQ)

[NukeJohn]

Class Action Law Firms should consider the consequences of filing frivolous lawsuits.

http://www.law.com/jsp/article.jsp?id=900005531706&Attorneys_Sanctioned_for_Filing_Frivolous_Securities_Suit&slreturn=20130502083457

excerpts...

Law Firm to Pay Longtime Foe $50 Million
By MELODY PETERSEN

Milberg Weiss Bershad Hynes & Lerach, a New York law firm that has grown rich by suing corporate America, agreed to pay $50 million yesterday to its longtime foe, Lexecon Inc., a Chicago consulting firm, which had contended in court that the law firm had tried to destroy its reputation.

In a long-running feud, Lexecon and one of its prominent consultants, Daniel R. Fischel, the dean of the University of Chicago Law School, had accused lawyers at Milberg Weiss of having tried to discredit the consulting firm by unfairly trying to tie it to the billion-dollar collapse of Lincoln Savings and Loan.

After hearing the consultants' contentions that the law firm had abused the legal process to discredit Lexecon, a jury in Federal District Court in Chicago on Monday awarded the consulting firm $45 million in compensatory damages.

Before the jury could decide whether punitive damages should be added to that amount, the two sides talked through the night, reaching the $50 million settlement yesterday morning. The settlement takes the place of the $45 million jury verdict.

Here's another one....

http://www.law.com/jsp/article.jsp?id=900005531706&Attorneys_Sanctioned_for_Filing_Frivolous_Securities_Suit&slreturn=20130502083457

excerpts...

Attorneys Sanctioned for Filing Frivolous Securities Suit

By Matthew Haggman

Daily Business Review

Two Chicago attorneys and their clients, who brought a securities lawsuit against a Miami-based pharmaceutical company, have lost their fight to fend off what may be the largest sanction ever for filing a frivolous securities lawsuit. The 11th U.S. Circuit Court of Appeals affirmed both the dismissal of the suit against Kos Pharmaceuticals and the sanctions order that hits the plaintiffs and their attorneys with a $520,000 fine.

Some other links of interest...

http://www.wlf.org/upload/042209Gilead.pdf

http://www.lorman.com/newsletter/article.php?article_id=748&newsletter_id=163&category_id=8&topic=LIT



JMHO,

NJ