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District court judge doesn't give Retractable Tech all it sought in BD case

  • Thinly-traded nano cap Retractable Technologies (NYSE:RVP -2.4%) didn't get all the good news it was hoping for from U.S. District Court for the Eastern District of Texas Judge Leonard Davis in its safety syringe antitrust case against Becton, Dickinson (BDX -0.3%) but it didn't fare too badly either.
  • The Court found that the remedy of disgorgement of a portion of BD's profits was appropriate but the $340,524,042 trebled damages awarded by the jury was a sufficient disgorgement. In other words, there is no more money to be had. Attorneys fees were awarded as well, but the amount requires recalculating to meet the Court's guidelines.
  • The Court also granted injunctive relief having found that BD's business practices limited innovation and its false advertisements suppressed sales of Retractable's VanishPoint thus preventing the market from full access to the product.
  • A separate Court Order was issued directing the companies to attend mediation by January 15, 2015.
  • BD is expected to appeal the ruling.

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