Namenda Antitrust Litigation Settles For $750 Million
Namenda Antitrust Litigation Settles For $750 Million
On October 28, 2019, the direct purchaser plaintiffs and Forest Laboratories (now Allergan) reached a settlement to end the “pay for delay” and “product hopping” antitrust case known as the In Re Namenda Direct Purchaser Antitrust Litigation, set to begin trial that same day. The case resulted in a proposed settlement amounting to $750 million for the direct purchaser class. The case is pending in the United States District Court for the Southern District of New York, before the Honorable Colleen McMahon. The settlement agreement is still subject to finalization and court approval. Faruqi & Faruqi, together with other firms, represents the direct purchasers in the litigation.
Faruqi & Faruqi, LLP focuses on complex civil litigation, including securities, antitrust, wage and hour and consumer class actions as well as shareholder derivative and merger and transactional litigation. The firm is headquartered in New York, and maintains offices in Atlanta, Los Angeles and Philadelphia.
Since its founding in 1995, Faruqi & Faruqi, LLP has served as lead or co-lead counsel in numerous high-profile cases which ultimately provided significant recoveries to investors, direct purchasers, consumers and employees.
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Kristyn Fields’ practice is focused on antitrust litigation. Kristyn is a Partner in the firm’s New York office.
