Product Liability Attorney Blog

On April 8, 2009, Genentech, the manufacturer of the psoriasis drug Raptiva (efalizumab), announced that it had begun a withdrawal of Raptiva from the U.S. market because of its link to patients developing progressive multifocal leukoencephalopathy (PML), a neurologic disease caused by a virus that affects the central nervous system. PML is associated with long-term Raptiva use and generally occurs in people whose immune systems have been severely weakened. It often leads to an irreversible decline in neurologic function and death. There is no known effective treatment for PML.

A Florida child psychiatrist who was paid by AstraZeneca to talk to other physicians about the antipsychotic drug Seroquel is also the chair of an influential FDA committee, the Philadelphia Inquirer reports.

Dr. Jorge Armenteros was not only AstraZeneca’s paid speaker, he is also the chair and voting member of the FDA advisory committee that will decide whether Seroquel XR, an extended-release version of Seroquel, should be approved to treat depression and anxiety. However, the day before the Philadephia Inquirer story appeared in print, it was announced that Armenteros would not be voting on the request.

Seroquel is currently approved only for the treatment of schizophrenia and bipolar disorder. Last year, it generated $4.45 billion in sales. There are approximately 20 million people in the United States who suffer from anxiety and depression. If the FDA approves the expansion, sales of Seroquel could soar.

So too could the number of people suffering dangerous Seroquel side effects such as diabetes, high blood pressure and sudden cardiac death.

Lawsuits have been filed against AstraZeneca alleging that the drugmaker hid the dangers associated with Seroquel from patients and many were seriously injured as a result.

Continue reading " Seroquel’s Maker Paid FDA Committee Member " »

Sales of Yamaha Rhino ATVs have been suspended because scores of deaths and injuries have occurred after the all-terrain vehicles rolled over on their drivers and passengers.

Sales were halted on March 31 when the federal government announced a free repair program for more than 120,000 Yamaha Rhino models 450, 660 and 700.

According to the announcement from the U.S. Consumer Product Safety Commission, the Rhino has been linked to the deaths of at least 46 ATV drivers and passengers.

The repair program includes the installation of a spacer on the rear wheels, removal of the rear anti-sway bar, the installation of half-doors and passenger holds.

Continue reading " Yamaha Rhino ATV Sales Suspended " »

This week federal health officials will weigh the risks of approving the antipsychotic drug Seroquel for the treatment of depression – even though sudden heart death is one of Seroquel’s side effects.

AstraZeneca, the London-based company that makes the drug, wants the U.S. Food and Drug Administration to approve Seroquel for depression and anxiety disorder patients. According to the Associated Press, millions of patients already use Seroquel for the treatment of schizophrenia and bipolar disorder. If the FDA expands the list of approved conditions, more than 20 million people in the United States could potentially receive Seroquel.

But there are serious safety concerns.

A recent New England Journal of Medicine article indicated that drugs like Seroquel can increase the risk of sudden cardiac death. Seroquel side effects also include high blood pressure and diabetes.

AstraZeneca is also facing a number of lawsuits that claim the drugmaker kept the dangers associated with Seroquel hidden.

Continue reading " FDA Reviews Risks of Seroquel " »

The antipsychotic drug Seroquel, made by AstraZeneca, has been linked to an increased risk for developing high blood pressure, diabetes and sudden heart death.

The U.S. Food and Drug Administration approved Seroquel for the treatment of schizophrenia, a condition that may include hearing voices, seeing or sensing things that are not present, mistaken beliefs or unusual suspicions. Seroquel is also approved as a treatment for bipolar disorder, a mental illness that causes extreme mood swings. Seroquel has also been prescribed to treat dementia even though the FDA has not been approved it for that purpose.

Seroquel has been associated with some severe and deadly side effects. The Seroquel side effects lawyers at Carey & Danis believe that AstraZeneca kept the dangers associated with Seroquel secret. As a result, a number of patients prescribed Seroquel suffered serious injuries.

The Food and Drug Administration now warns that there are several risks and side effects associated with Seroquel therapy including:

An increased chance of death in elderly person

Neuroleptic malignant syndrome (NMS), a life-threatening nervous system problem that can cause high fever, muscle stiffness, sweating, a fast or irregular heartbeat, a change in blood pressure and confusion

An uncontrollable muscle movement condition known as tardive dyskinesia

High blood sugar and diabetes

Continue reading " Seroquel Side Effects " »

NEWS RELEASE

March 27, 2009

Carey & Danis LLC Announces Auction Rate Securities Class Action Lawsuit Filed Against H&R Block

St. Louis, MO – The law firm of Carey & Danis LLC (www.careydanis.com) has filed a class action lawsuit on behalf of persons who purchased auction rate securities from H&R Block, Inc. (NYSE: HRB), and H&R Block Financial Advisors, Inc., between Aug. 26, 2003 and Feb. 13, 2008 and who continued to hold the securities as of Feb. 13, 2008.

The class action lawsuit, La Grave v. H&R Block, Inc., et al., 08-cv-667, is pending in the U.S. District Court for the Southern District of Illinois. The suit alleges that H&R Block, Inc. and its subsidiary H&R Block Financial Advisors, Inc., violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by deceiving investors about the investment characteristics of auction rate securities and the auction market in which the securities are traded.

Auction rate securities are municipal or corporate debt securities or preferred stocks that pay interest at rates set through periodic auctions. The instruments typically have long-term maturity dates or no maturity date.

The suit filed on Sept. 24, 2008 claims that, pursuant to uniform sales materials and top-down management directives, H&R Block offered and sold auction rate securities to the public as highly liquid cash-management instruments and as suitable alternatives to money market mutual funds. On Feb. 13, 2008, all of the major broker-dealers, including H&R Block, withdrew their support for the auctions. The suit claims that, as a result, investors have been unable to liquidate their auction rate securities.

The lawsuit alleges that H&R Block failed to disclose the following material facts about the auction rate securities it sold to the class:

• The auction rate securities were not cash alternatives like money market funds but were instead complex long-term financial instruments with 30-year maturity dates.
• The auction rate securities were only liquid at the time of the sale because H&R Block and other broker-dealers were artificially supporting and manipulating the market to maintain the appearance of liquidity and stability.
• H&R Block and other broker-dealers routinely intervened in the auctions for their own benefit to set rates and to prevent all-hold auctions and failed auctions.
• H&R Block continued to market auction rate securities as liquid investments even after H&R Block and other broker-dealers determined that they would likely be withdrawing support for the periodic auctions and that a freeze of the auction rate securities market would result.

Investors who purchased or acquired auction rate securities from H&R Block between Aug. 26, 2003, and Feb. 13, 2008, and who continued to hold the securities as of Feb. 13, 2008, may request appointment as lead plaintiff by the Court on or before May 26, 2009. A lead plaintiff is a representative party acting on behalf of other class members. To be appointed, the Court must conclude that the investor’s claims are typical of other class members’ and that the investor will adequately represent the class. The investor’s ability to share in any recovery is not affected by the decision to serve as lead plaintiff. The investor may retain Carey & Danis LLC, or other attorneys, to serve as counsel.

Auction rate securities investors who wish to discuss their rights against H&R Block or any other broker-dealer may contact Carey & Danis LLC toll-free at 800-721-2519. A copy of the lawsuit is available from the Court.

Carey & Danis LLC is a national law firm based in St. Louis that aids victims of corporate abuse, greed and neglect.

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CONTACT:
JOSEPH P. DANIS
jdanis@careydanis.com
MICHAEL J. FLANNERY
mflannery@careydanis.com
COREY D. SULLIVAN
csullivan@careydanis.com
Phone: 1-800-721-2519
www.careydanis.com

Yamaha Rhino owners have been advised to stop operating certain models of the all-terrain vehicles because of rollover concerns.

On March 31, the U.S. Consumer Product Safety Commission, in cooperation with Yamaha Motor Corp., announced a free repair program to address safety issues with the Rhino 450, 660 and 700 models of off-highway recreational vehicles.

There have been 46 deaths of ATV drivers and ATV passengers linked to the Rhino 450 and 660. More than two-thirds of the fatalities involved rollovers. Unbelted Rhino occupants were also involved in many of the deaths. Many of the incidents involving ATV deaths or serious injuries occurred while operating the ATVs at slow speeds on relatively level terrain.

The repair program includes the installation of a spacer on the rear wheels, removal of the rear anti-sway bar, the installation of half-doors and the installation of passenger holds.

Continue reading " Yamaha Rhino ATV Rollover and Recall " »