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UK pension fund to lead US class action
A US court has awarded a UK pension fund the right to lead a class action against pharmaceutical giant GlaxoSmithKline (GSK), in one of the first appointments of its kind. Avon Pension Fund will be represented by US securities firm Coughlin Stoia Gellern Rudman & Robbins as it seeks $2.7m (£1.3m) in damages after alleging that GSK misled investors over the safety of diabetes drug Avandia.
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