Related Information:February 1, 2002
In re Lorazepam and Clorazepate Antitrust Litigation
We secured a $147 million settlement in this lengthy and complex antitrust case against Mylan Laboratories, and received laudable recognition from the court.
On February 1, 2002, Judge Thomas F. Hogan of the United States District Court for the District of Columbia signed an order in the matter of In re: Lorazepam and Clorazepate Antitrust Litigation, MDL Docket No. 1290, finally approving settlements of two antitrust class actions filed on behalf third-party payors who overpaid for two anti-anxiety drugs from 1998 through 1999. The settlements established two funds totaling $35.4 million payable to third-party payors throughout the United States. Labaton Sucharow served as co-lead counsel for the third-party payor plaintiffs in both class actions. These settlements cover insurers, union health and welfare funds and other third-party payors who paid for all or part of the costs of their members' or insureds' prescriptions of generic Lorazepam and Clorazepate.
[Additional information can be obtained about this matter at the following internet website: www.tppsettlement.com].
In addition, Labaton Sucharow was co-lead counsel in related antitrust litigation on behalf of consumers brought in conjunction with the Federal Trade Commission and the attorneys general of thirty-two states. This litigation was also settled at the same time, with Mylan paying $100 million, which will be used to reimburse consumers and state agencies in all fifty states and the District of Columbia for a portion of any overcharge they may have incurred when purchasing either or both drugs.