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 cases of its kind. Avon Pension Fund will be represented by US securities firm Coughlin Stoia Geller Rudman & Robbins as it seeks $2.7m (£1.3m) in damages after alleging that GSK misled investors over the safety of diabetes drug Avandia. Avon will become one of the first UK pension funds to lead a class action in the US.
October 17, 2007 at 10:22 PM
1 minute read
The original version of this story was published on Legalweek
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 cases of its kind. Avon Pension Fund will be represented by US securities firm Coughlin Stoia Geller Rudman & Robbins as it seeks $2.7m (£1.3m) in damages after alleging that GSK misled investors over the safety of diabetes drug Avandia. Avon will become one of the first UK pension funds to lead a class action in the US.
Legalweek.com (11 October)
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