|
Lawyers fly into action vs. B&L
After permanently removing ReNu with MoistureLoc from world markets, Bausch & Lomb Inc. said it could move on to restoring its brand and mending customer confidence. Assuaged by these developments, investors pushed B&L shares up more than 12 percent on that day two weeks ago. Not surprisingly, however, at least 19 lawsuits in jurisdictions nationwide await the Rochester company. Most of the suits are federal class actions claiming that, by being linked to an outbreak of fungal eye infections in the United States, B&L's ReNu with MoistureLoc contact lens solution injured consumers. Other filings claim that company management's malfeasance jammed investors with a weakened share price. It's still unclear when and by how much these cases will affect B&L. But as the legal hurdles facing the company play out, the lawsuits offer a glimpse into the competitive arena of mass civil litigation. … That doesn't surprise Lucinda Finley, a law professor and product liability expert at State University of New York at Buffalo. "Lawyers who specialize in medical products litigation are as interested in business development as any professional," Finley said. "Setting up the Web site would be a way to get ahead of the other legal competition."
For a copy of the complete article, contact CJRG. |