Update: Retractable Technologies Wins In Syringe Antitrust Suit
- A cash reward that is almost coming your way.
- More than $12 in compensation, triple the current stock price.
- Net proceeds could be lower due to expenses and attorney fees.
Retractable Technologies: Moving Towards Profitability
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Thu, Nov. 13, 1:27 PM
- Thinly-traded nano cap Retractable Technologies (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.
Tue, Nov. 11, 12:45 PM
Wed, Oct. 1, 12:46 PM
Wed, Oct. 1, 9:12 AM
Thu, Aug. 14, 6:10 PM| Comment!
Sep. 20, 2013, 12:46 PM
Sep. 20, 2013, 9:01 AM
- Make no mistake: It's a good day to be long Retractable Technologies (RVP).
- After a protracted legal battle, a jury returned a favorable verdict Thursday in litigation against Becton, Dickinson (BDX).
- RVP accused BDX of attempting to monopolize the safety syringe market.
- RVP is awarded $113.5M in compensatory damages. (PR)
- The market reaction: RVP +141% premarket
Mar. 12, 2013, 12:50 PM
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