GSK - SEROXAT Litigation massive payout - see Bob FIDDAMAN blog for details

A class action settlement has been reached in a class action lawsuit against GlaxoSmithKline LLC (“GSK” or “GlaxoSmithKline”) pending in the Superior Court for the State of California County of Los Angeles (styled Grair v. GlaxoSmithKline, Class Action Case No. BC 288536), alleging, among other things, that GlaxoSmithKline employed false and deceptive marketing by misrepresentations and failing to disclose material information to the class and healthcare providers that the prescription antidepressant medication Paxil, an FDA-approved prescription medication commonly used to treat depression, obsessive-compulsive disorder, generalized anxiety disorder, social anxiety disorder, and post-traumatic stress disorder, was habit forming or addictive and about Paxil’s risks and unique frequency and severity of symptoms on withdrawal or discontinuation of Paxil, according to the California Paxil Antidepressant class action settlement notice.


http://classactionlawsuitsinthenews.com/class-action-notices/paxil-antidepressant-class-action-settlement-of-class-action-lawsuit-against-glaxosmithkline-over-allegedly-false-deceptive-advertising/?utm_source=rss&utm_medium=rss&utm_campaign=paxil-antidepressant-class-action-settlement-of-class-action-lawsuit-against-glaxosmithkline-over-allegedly-false-deceptive-advertising&utm_source=Paxil+News&utm_medium=twitter

Class Members in the California Paxil Antidepressant settlement reportedly include the following persons, unless otherwise excluded:



All natural persons who: (1) commenced a Paxil prescription between January 14, 1999 and January 1, 2003; (2) were 18 years old or older at the time they commenced their prescription; and (3) were residents of the State of California at the time they commenced their prescription.



The Paxil Antidepressant settlement reportedly provides monetary compensation as follows:



GlaxoSmithKline shall pay up to a total of eight million five hundred thousand dollars ($8,500,000.00) to provide a full refund of the Out-of-Pocket Expenses of Settlement Class Members who timely submit a valid Proof of Purchase and a sworn statement verifying eligibility. In the event the total amount of valid claims submitted by Settlement Class Members with valid Proof of Purchase exceeds $8,500,000.00, then the payment to those Class Members will be reduced pro rata so that a total of not more than $8,500,000.00 will be paid to Settlement Class Members with valid Proof of Purchase. GlaxoSmithKline shall reimburse Out-of-Pocket Expenses incurred by Settlement Class Members who timely submit a sworn statement verifying eligibility but who do not have valid Proof of Purchase up to eighty dollars ($80.00) per claimant. In the event the total amount of valid claims submitted by Settlement Class Members who do not have valid Proof of Purchase exceeds five hundred thousand dollars ($500,000.00), then the payment to those Class Members will be reduced pro rata so that a total of not more than $500,000.00 will be paid to Settlement Class Members who do not have valid Proof of Purchase.



Under the California Paxil Antidepressant Class Action Settlement, only Out-of-Pocket Expenses, including copayments and deductibles, you incurred for Paxil from January 1, 1999 through January 1, 2003 will qualify.



The Paxil Antidepressant settlement also provides that GlaxoSmithKline shall include certain information about Paxil ® or Paxil CR® on its corporate website as long as Paxil® or Paxil CR® is listed as a GlaxoSmithKline product on that website and that should GlaxoSmithKline in the future market or sell Paxil® or Paxil CR® or generic paroxetine in the United States, then GlaxoSmithKline will not advertise the product as non-habit forming and will comply with all FDA requirements.



The Court will hold a Fairness Hearing at 9:00 a.m. on November 13, 2012 at Department 323 of the Superior Court for the State of California County of Los Angeles located at Central Civil West Courthouse, 600 S Commonwealth Ave., Los Angeles, CA 90005 to consider whether the Paxil Antidepressant settlement is fair, reasonable, and adequate and will decide whether to approve the settlement and the motion for attorneys’ fees, expenses, and awards to the Class Representatives.



For more information about the proposed Paxil Antidepressant class action settlement, visit the California Paxil Antidepressant settlement website:



www.capaxilclassaction.com