For those unfamiliar with the federal bankruptcy code, Chapter 9 is the section applying to municipal governments (such as townships, cities and counties) and public entities under the control or supervision of a local government body. Those entities include school districts and publicly-owned, non-profit utilities.
It's been awhile since the news began breaking about the latest debacle with UBS and its sale of closed-end Puerto Rico funds. For those who aren't familiar with the story, here's the short version.
Trouble in Paradise
According to Section 801 of the Food and Drug Administration Amendments Act (better known as “FDAAA 801”), clinical trials on new medications and medical devices must be reported to the federal registry at ClinicalTrials.gov within twelve months of completion, or face “civil monetary penalties and, for federally funded studies, the withholding of grant funds”. Those “monetary penalties,” assessed thirty days after the sponsor of the study in question receives notification, are $10,000 a day until compliance.
FDA Warns Testosterone Not Approved for Low Testosterone Due to Aging and May Cause Heart Attack and Stroke; Requires Label Change
The U.S. Food and Drug Administration (FDA) issued a Safety Announcement on March 3 warning the public that testosterone products are not approved for use in treating low testosterone as a result of aging.
When an industry is well into its ninth decade of existence and has become an integral part of the economy, you would think that new technologies and more enlightened rules and regulations would have greatly increased job safety. You would be wrong.
Pharmaceutical giant Johnson & Johnson was ordered to pay $2.5 million for damages resulting from its antipsychotic drug Risperdal. The case regarded the drug company’s failure to warn the parents of an autistic child of the risks associated with the drug.
It’s a regrettably common thing to see, driving down the road; a teenager on their cell phone oblivious to the drivers and traffic around them. It’s a growing problem and one that could be fixed by device manufacturers.
Levin Papantonio is rolling out a new online newsletter to keep the public informed of breaking news related to health and safety concerns, such as major recalls, alerts, safety issues, and proposed legislation impacting consumer rights.
The Safety Alert Newsletter will be emailed every two to three weeks and will provide specific information regarding current safety issues involving a broad array of products, prescription medication, and services that have been found to pose a danger to the public.
Charles B. Johnson built the publicly traded mutual fund business Franklin Resources into a holding company with a $34 billion market value. He has also pledged $250 million to his alma mater Yale. He may also have defrauded the heir of one of the earliest investors in Franklin Resources out of $150 million.
FINRA fined Fidelity Investments $350,000 for allegedly overcharging 20,000 clients a total of $2.4 million. In FINRA's letter of settlement, it said that Fidelity had charged for transactions in fee-based accounts from January 2006 to September 2013.
The island of Puerto Rico is neither a sovereign nation, a state, nor strictly speaking a U.S. territory – although it has been under U.S. control for going on 120 years. Its residents are considered U.S. citizens, yet they cannot vote in U.S. elections, and have only limited representation in Congress. Except for federal employees and members of the U.S. military, Puerto Ricans pay no federal income tax, but do have their own elected governor and legislature.
Starting Monday, February 16th, The Ed Show on MSNBC will be airing nightly segments recorded on the Gulf Coast about the ongoing struggle of residents affected by the 2010 BP oil spill. These segments will feature interviews with residents, business owners, and Levin Papantonio’s Mike Papantonio. The show airs nightly on MSNBC at 5pm eastern. Clips will be featured on www.RingofFireRadio.com the day after each segment airs.
The Court presiding over all the consolidated federal lawsuits related to Xarelto bleeding injuries has appointed lead counsel for the Plaintiffs’ Steering Committee. In Pretrial Order #7 signed by the Hon. Eldon E. Fallon, both Brian H. Barr of the Levin Papantonio law firm and Andy D. Birchfield of the Beasley Allen law firm were appointed as co-lead counsel to head a core group of twelve law firms that will litigate the case on behalf of injured plaintiffs.
“Again...this couldn't happen again... This is that once-in-a-lifetime...”
With all due respect to lyricist Dorcas Cochrane, who penned the lyrics to this 1949 hit, it could happen again. It's happened before.
Yet another recall has been made on the heels of serious and traumatic device malfunctions- nearly 19,000 reports, to be exact. The recall for Alere INRatio and INRatio2 by the Food and Drug Administration has been upgraded to a Class I recall, meaning use of the product could cause serious or adverse health consequences and even death.