April, 2009Money Manager Nadel Indicted by Federal Grand Jury
Arthur Nadel, the Florida-based hedge fund manager accused of ripping off investors in a massive Ponzi scheme, has just been indicted by a U.S. grand jury on charges of investment fraud totally about $360 million. The indictment includes 15 charges against Nadel, who has remained behind bars at the Manhattan Correctional Center in New York City on $5 million bail since January 2009. Nadel worked out of Sarasota, Florida but he is being prosecuted in New York because he traded …
Continue →Digitek Patients Sue Drug’s Makers for Oversized Heart Pills
Nearly 100 people have sued the makers of Digitek heart pills for failing to release information about the pills after they were recalled last year when officials feared they contained life-threatening double doses of the active ingredient.
Continue →Pregnant Women Should Avoid Epilepsy Drug Valproate, Experts Say
The anti-seizure drug Valproate should not be taken by epileptic women during pregnancy because it may lead to major birth defects and lower IQ in children, two leading medical groups say. Valproate is the brand name of the generic drug depakote made by Abbott. It has been prescribed to prevent seizures in women during pregnancy. An estimated 500,000 women of childbearing age in the United States have epilepsy and three to five of every 1,000 births are to women with …
Continue →FDA Orders Stronger Safety Warnings for Tylenol, Motrin, and Advil
Tylenol, Motrin, and Advil and other popular brands of over-the-counter painkillers and fever-reducers that millions of people take every day for headache and muscle pain must carry stronger warnings about the risks of liver damage and stomach bleeding, the Food and Drug Administration has ordered. Drugs like Tylenol which contain acetaminophen must now include prominent warnings on their packaging to notify users that too much of the drugs can cause severe liver damage. Users also will be warned against taking …
Continue →FDA Authorizes Emergency Use of Drugs and Diagnostic Test to Combat Swine Flu
In response to the fast-growing global outbreak of swine flu, the Food and Drug Administration has just approved the emergency use of two influenza drugs — Tamiflu and Relenza — as well as a diagnostic test that can more accurately detect the new strain of the deadly flu. The FDA announcement comes just days after the U.S. government issued a public health emergency about swine flu, an infectious disease that has killed more than 100 people in Mexico and sickened …
Continue →LexisNexis® Legal News Podcast for April 28, 2009
The Iowa high court denies a mother access to her children’s mental health records, and, the First Circuit finds a noxious odor is a physical injury for insurance purposes under Massachusetts law. Hear these and other stories from LexisNexis® Mealey’s™ Insurance Litigation, Data & Identity Theft, and Mortgage Lending Reports. Copyright© 2009 LexisNexis, a division of Reed Elsevier Inc. For the latest litigation news headlines, visit www.lexisnexis.com/mealeys.
Crew Member of Pirated Vessel Sues Ship’s Owner
A crewman on the United States ship that was hijacked by African pirates earlier this month has filed a $75,000 lawsuit against the owner of the ship and another company for knowingly putting him and other sailors at risk.
Continue →Prostate Drug Avodart Also Effective at Preventing Cancer, Doctors Say
Avodart, the GlaxoSmithKline PLC drug already given for problems caused by enlarged prostate, also significantly reduces the chances of prostate cancer in men who are at increased risk of the disease, according to new research. In a large study, the drug reduced the risk of prostate cancer by 23 percent after four years of use. Prostate cancer is the most common non-skin cancer in American men, with about 186,000 new cases and 28,660 deaths annually. Avodart now joins Proscar by …
Continue →Medication Improves School Test Scores of Kids With ADHD, Study Finds
Children with attention deficit hyperactivity disorder (ADHD) who take medication to control the condition score higher on school tests compared to students who do not take ADHD drugs, according to a major, long-term study just released. Nearly 600 children with ADHD in kindergarten through fifth grade were included in the study, which looked at how the students performed on standardized math and reading tests. On average, kids taking medication for their ADHD scored three to five points higher on the …
Continue →Swine Flu Scare: The Long-Awaited Great Epidemic or Just Medicine’s Y2K?
Reports of swine influenza have whipped the world into a fear-induced frenzy, prompting officials in nations around the world to issue public health advisories and restrict travel to and from Mexico, where more than 100 people have died and a thousand more have been sickened by the new strain of the disease.
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