Tag Archives: Damages

Judge Forrest Awards Almost $250 Million to New York State and City in UPS Cigarette Tax Case

Judge Forrest awarded over $165 million to plaintiff New York State and over $81 million to plaintiff New York City for their claims that UPS failed to prevent the shipment of untaxed cigarettes using its parcel service (see our previous coverage here).  Judge Forrest awarded damages under both a previous Assurance of Discontinuance agreed to … Continue Reading

Second Circuit Rules That District Court Should Have Limited, But Not Excluded Entirely, Damages Expert Testimony in Pfizer Securities Class Action

The Second Circuit today held, in a shareholder class action accusing Pfizer of concealing the cardiovascular risks of two drugs, that Judge Swain should not have excluded entirely the testimony of the plaintiffs’ damages expert — a decision which had effectively ended the case (see our prior posts here and here).  The Second Circuit agreed with Judge … Continue Reading

Following Preclusion of Plaintiffs’ Expert, Judge Swain Dismisses Pfizer Shareholder Class Action

As we reported in May, Judge Swain precluded the trial testimony of the plaintiffs’ loss causation and damages expert in a shareholder class action accusing Pfizer of concealing the cardiovascular risks of two drugs, Celebrex and Bextra.  At the time we wrote:  “Without a damages expert, it is unclear how the plaintiffs can prove their … Continue Reading

Judge Swain Strikes Plaintiffs’ Damages Expert in Pfizer Shareholder Class Action

In an Order yesterday, Judge Swain precluded the trial testimony of the plaintiffs’ damages expert in a shareholder class action accusing Pfizer of concealing the cardiovascular risks of two drugs, Celebrex and Bextra.  Without a damages expert, it is unclear how the plaintiffs can prove their case at trial, which is currently scheduled for September. … Continue Reading
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