latest news releases from the newsroom
Seeger Weiss LLP
Seeger Weiss LLP Responds to New Jersey Supreme Court's Decision in International Union of Operating Engineers Local No. 68 Welfare Fund v. Merck & Co.-- Ruling Gives Rise to Thousands of Vioxx Consumer Fraud Claims -- MRK
NEW YORK, Sept. 6, 2007 (PRIME NEWSWIRE) -- The New Jersey Supreme Court today issued a decision reversing the March 31, 2006 decision of the New Jersey Appellate Division, which had upheld a decision certifying a Vioxx-related nationwide consumer fraud class action against Merck & Co. Inc. (NYSE:MRK), brought on behalf of third-party payors by Seeger Weiss LLP, a nationally-recognized complex class action firm. The Court concluded that certification of the class, consisting of all non-governmental health plans that paid for members' Vioxx prescriptions, was not appropriate and that claims relating to Merck's deceptive marketing and sale of Vioxx should be pursued by other means. The suit asserts claims against Merck under the New Jersey Consumer Fraud Act to recover losses incurred by the health plans for covering prescriptions for the now-withdrawn painkiller. On July 29, 2005, the New Jersey Superior Court had granted a motion by the class representative, a labor union health plan, to allow the lawsuit to proceed as a nationwide class-action, based on allegations that Merck engaged in widespread and systematic concealment of information concerning the serious health risks of Vioxx.
Competitive Technologies, Inc.
Competitive Technologies Forms Alliance With NCS Pharmaceuticals
FAIRFIELD, Conn., Sept. 6, 2007 (PRIME NEWSWIRE) -- Competitive Technologies, Inc. (AMEX:CTT) announced today that they have formed a strategic alliance with NCS Pharmaceuticals LLC. The Somerset, NJ-based NCS will work with CTT in the therapeutic drug, medical diagnostic, analytical testing and nutraceutical markets. NCS will evaluate the pharmacokinetic and pharmacodynamic properties of selected therapeutic analogues of current or newly acquired technologies in CTT's portfolio.
Newtek Business Services Inc.
Newtek Business Services Acquires Merchant Processing Portfolio From Axeus
NEW YORK, Sept. 6, 2007 (PRIME NEWSWIRE) -- Newtek Business Services, Inc. (Nasdaq:NEWT) (www.newtekbusinessservices.com) a direct distributor to the small to medium sized business market, has announced that it has purchased a substantial merchant portfolio from Axeus, a leading product and services provider that focuses on innovative technology for small businesses and consumers. This transaction involves approximately 1,000 national retail merchants, and had a purchase price in excess of 2 million dollars. The acquisition was brokered through the consulting firm of The Strawhecker Group.