Stuart Paynter to Present at ABA Sports & Antitrust Law Webinar
On May 26, 2016, Stuart Paynter will present a webinar through the American Bar Association on sports and antitrust law. This program will focus on developments in the area of sports and antitrust law and will include a discussion of high-profile litigations such as those involving intercollegiate athletics and broadcast restrictions. The webinar has been approved for 1.5 General CLE Credit Hours. Visit the American Bar Association's website for more information or to register for the webinar.
The Paynter Law Firm PLLC Opens New Office
The Paynter Law Firm PLLC has officially opened its newest office located at 106 S. Churton Street, Suite 200 in Hillsborough, North Carolina. The firm’s building was previously home to businesses such as Billsborough and Blue Bayou. Extensive renovations transformed the space to its present state, but care was taken to preserve many of the historic details and original structures of the building. The space boasts reclaimed wood floors and original, exposed brick walls and wooden ceiling beams.
The firm is excited to be part of the Hillsborough, NC community and has already joined the local community by participating in the Hillsborough Arts Council’s Art Walk and by sponsoring local events such as the Got Grit? 5K in May 2016 and the inaugural Historic Hillsborough Half Marathon in October 2016.
The firm remains committed to representing the rights of individuals and small business owners on a contingency fee basis. Practice areas include personal injury, wrongful death, complex business litigation, antitrust, class actions, and more! For photos of our new space, please see the gallery below. (Photos courtesy of Cesar Carrasco: www.cesarcarrasco.com.)
New Complaint Filed Against Meracord's Surety Companies
The Paynter Law Firm PLLC has filed a new complaint against Fidelity and Deposit Company of Maryland and Platte River Insurance Company, as Sureties for Meracord LLC. The new complaint was filed to correct the Court’s jurisdictional concerns. Additionally, the new complaint adds new class representatives from each state where a surety bond was issued on Meracord’s behalf and also requests that the Court certify a new class against the surety companies.
In the meantime, The Paynter Law Firm PLLC is in the process of finalizing a settlement agreement with Platte River Insurance Company. Once the settlement with Platte River is finalized, the action initiated by the new complaint will continue in regards to Fidelity and Deposit Company of Maryland.
Suit Filed Against Valeant Pharmaceuticals International, Inc.
The Paynter Law Firm, PLLC has filed a class-action lawsuit against Valeant Pharmaceuticals International Inc. (“Valeant”) alleging anticompetitive actions and antitrust violations related to Valeant’s recently acquired monopoly over the market for certain specialty contact lens materials.
The lawsuit is brought on behalf of the finishing labs that are both Valeant’s customers and competitors in the market for orthokeratology (“OrthoK”) lenses, which are worn by patients while sleeping in order to slowly reshape the cornea and correct vision. OrthoK lenses are custom made by shaping small disks of material, called “buttons,” into lenses that conform to a patient’s specific prescription.
Before May 2015, there were two competitors in the market for the manufacture of OrthoK buttons: Paragon Vision Sciences and Bausch & Lomb.
In August 2013, Valeant acquired Bausch & Lomb for $8.7 billion, and in May 2015, Valeant acquired Paragon, giving Valeant control over 100% of the market for OrthoK buttons, as well as control over the other half of the market for OrthoK lenses—composed of a single OrthoK product called the Paragon CRT, which competes directly with the OrthoK lenses manufactured by the finishing labs.
On September 15, 2015, just months after acquiring Paragon, Valeant used its new monopoly power to eliminate volume discounts for OrthoK buttons and to implement large across-the-board price hikes ranging from 61% to 200%. Valeant’s monopolization of the OrthoK lens market has left the patients they serve with steep price hikes and no other comparable options in the marketplace.
Recently, Valeant further extended its efforts to fully control the OrthoK market by purchasing Pelican Products, a company that is believed to manufacture 80-100% of the specialized cases used by the finishing labs to ship OrthoK and other gas permeable lenses. Valeant has also made offers to purchase several finishing labs—many with substantial OrthoK business. If successful, these purchases could allow Valeant to force competing labs out of the market, leaving Valeant free to implement further steep price increases.
The U.S. Federal Trade Commission (“FTC”) is currently investigating several of Valeant’s practices and purchases, including its acquisition of Paragon.
The Paynter Law Firm, PLLC is co-counsel in this action with Lite Depalma Greenberg, LLC. If you have been affected by the pricing and practices of Valeant or would like more information, please contact The Paynter Law Firm.
July 16, 2015 | Oakland, California
A federal judge today gave her final approval to a class action settlement in a lawsuit brought by NCAA student-athletes against videogame maker Electronic Arts, the NCAA, and the Collegiate Licensing Company. The lawsuit alleged that EA, NCAA, and CLC conspired to use student-athletes' names, images, and likenesses in EA's NCAA-branded football and basketball videogames, without the players' permission, in violation of the players' publicity rights and other laws.
The combined settlement provides for a $60 million Settlement Fund to be distributed to student-athletes who appeared on rosters of teams used in EA's videogames, and who made timely claims in the suit. Although the original claims deadline was July 2, 2015, the judge agreed to extend the deadline for claims until July 31, 2015. (For more information, see http://www.ncaa-ea-likeness-settlement.com).
The lawsuit originated with a case brought on behalf of former University of Nebraska quarterback Sam Keller by The Paynter Law Firm and co-counsel Hagens Berman Sobol Shapiro, and was eventually consolidated with a case brought by former UCLA basketball star Ed O'Bannon alleging that the defendants' actions violated federal antitrust laws.