Corporate Accountability Report Index-Summary

HEALTH CARE

– Cardiovascular risks of Celebrex and Bextra, Pfizer Inc., derivative action dismissed for lack of presuit demand futility (2d Cir.), 171
– Celebrex study, inquiry notice of §10(b) claims requires notice of possibility of fraud (3d Cir.), 201
– Class actions against life sciences companies, 2008 cases focused on accounting improprieties and misleading financial results, survey says, 539
– Corporate governance, CalPERS names underperforming companies, 379
– Derivative litigation

– – Adolor Corp., drug trial results lacked information, presuit demand futility not shown (E.D. Pa.), 703
– – Medtronic Inc. product recall, demand not futile (D. Minn.), 669
– – Standing for stock option backdating fails after Biomet merger (Ind. Ct. App.), 265

– Director elections, “short slate” rule, Amylin Pharmaceuticals dissidents can apply to multiple slates (SEC No-Action Letter), 432
– Electronic postmark sales metrics, Authentidate Holding Corp. had no duty to disclose (S.D.N.Y.), 420
– Fraud

– – Accounting scheme, two former National Century Fin. Enterprises executives get prison, penalties (S.D. Ohio), 419
– – Apogee Tech., revenue inflation charges settled (D. Mass.), 671
– – Axonyx Inc. failed drug trials, possible flaws in clinical trial fail to show scienter (S.D.N.Y.), 439
– – Cardinal Health, revenue inflation charges settled with penalties, director and accounting bars (S.D.N.Y.), 671
– – Connetics, failure to disclose problems with acne drug and channel stuffing, class certified (N.D. Cal.), 668
– – Financial projections, Baxter Intl. did not ignore relevant information when renal and biosphere sales fell (N.D. Ill.), 232
– – Healthways, false and misleading statements about Medicare pilot performance and customer contracts, class may proceed (M.D. Tenn.), 419
– – Nuvelo's alfimeprase drug trial disclosures, class action pleadings deficient, dismissed (N.D. Cal.), 8
– – Off-label marketing, not strong demand, responsible for Viread sales, pleadings meet PLSRA (N.D. Cal.), 1261
– – Omnicare misrepresentation claims, no loss causation, dismissal affirmed (6th Cir.), 1289
– – Pleading requirements, class had opportunities to correct deficiencies in Guidant Corp. fraud case, dismissal proper (7th Cir.), 1290
– – Scienter

– – – Blood thinner Exanta, safety and efficacy misrepresentation claims lack scienter (2d Cir.), 859
– – – Confidential witnesses must be reliable to show Gilead Sciences used off-label pharmaceutical marketing (N.D. Cal.), 772
– – – Inspire Pharmaceuticals class action dismissed for failure to adequately allege (4th Cir.), 10

– – Stietel Labs. did not disclose pending merger in stock buy-back plan (S.D. Fla.), 892

– Nanotechnology disclosure inadequate, more regulation needed, says advocacy group, 771
– Res judicata bars claims filed by pro se against Skystar Biopharmaceutical in reverse merger, suit frivolous, sanctions appropriate (D. Conn.), 1103
– Search warrants for SDI Future Health Inc., facilities, executives have standing to challenge only if reasonable expectation of privacy (9th Cir.), 127
– Special shareholder meetings, AMN Healthcare Services may not omit from proxy materials (SEC No-Action Letter), 132
– Statute of limitations

– – “Inquiry notice” period for fraud allegations against Merck about Vioxx safety (U.S., rev grant), 663; notice timeline starts from injury, reinstatement wrong, says SIFMA amicus brief, 1062
– – Unequivocal termination notice by Wyeth required before period starts (DOL ARB), 611

– Stock option backdating

– – Pediatrix Medical Group consents to charges involving former financial officer (S.D. Fla.), 320
– – UnitedHealth Group

– – – Fiduciary duty breach in offering stock as investment option, settlement approved (D. Minn.), 1060
– – – SEC charges settled by general counsel and company, 13

– Tenet Healthcare Corp., former general counsel to pay in outlier revenue scheme (C.D. Cal.), 892; former COO settles charges with disgorgement, 1162

HEDGE FUNDS

– Advisor registration

See LEGISLATION, FEDERAL, HR 3818

– Citigroup misled investor on nature of hedge fund, lack of details leads to dismissal (S.D.N.Y.), 1032
– Class certification sought in actions against Holland & Knight for failure to disclose, conflicts of interest (M.D. Fla.), 1003
– Lack of regulation, Comm'r Paredes explains value, 569
– Mergers and acquisitions, hostile raids increasing, fueled by hedge funds, NYSE rules, SEC proxy access proposals, 1124
– Registration urged by AICPA, 553
– Regulating as investment companies, bill introduced by Grassley (R-Iowa) and Levin (D-Mich), 175
– Regulation recommendations made by Comm. on Capital Markets Regulation, 670
– SEC agenda, Schapiro testifies, 412
– Tender offer, minority shareholders knew facts, dismissal affirmed (7th Cir.), 45