Orlando, FL -- (SBWIRE) -- 09/12/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Chesapeake Energy Corporation(NYSE:CHK), Avanir Pharmaceuticals Inc(NASDAQ:AVNR).
Chesapeake Energy Corporation(NYSE:CHK) has said it will pay $7.5 million to settle a class-action lawsuit with Pennsylvania landowners who accused the company of deducting large fees from their royalty checks.
The natural gas producer settled the lawsuit within hours of its filing with the U.S. District Court for the Middle District of Pennsylvania on August 30. The settlement is expected to be done by the end of the year.
The settlement involves a complex formula to reimburse plaintiffs will bar the company from making certain deductions in the future.
The case: Demchak Partners Limited Partnership et al vs. Chesapeake Appalachia LLC, U.S. District Court for the Middle District of Pennsylvania, No. 3:13-cv-02289-MEM.
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Avanir Pharmaceuticals Inc(NASDAQ:AVNR) has entered into a settlement agreement with Wockhardt to resolve their patent litigation regarding Nuedexta. The latter had filed an abbreviated new drug application (ANDA) to get its generic version of Avanir’s Nuedexta approved.
Now, thanks to the settlement, Wockhardt can sell its generic version of Nuedexta on Jul 30, 2026 or before under certain circumstances. The 2 companies have also filed for the dismissal of the patent litigation.
Avanir has already settled its Nuedexta patent litigation with Novartis' generic arm Sandoz and Actavis. Litigation against two other companies, Impax Laboratories and Par Pharmaceutical Companies who have also filed ANDAs for their generic versions of Nuedexta, is in progress.
Nuedexta was launched in the U.S. in Jan 2011 for the treatment of pseudobulbar affect. In June this year, Avanir received approval for Nuedexta in the EU for the treatment of PBA patients.
Another study is being conducted to evaluate the efficacy of Nuedexta for the treatment of central neuropathic pain in multiple sclerosis. The drug is also being studied for agitation in Alzheimer's disease (phase II) and levodopa-induced-dyskinesia in Parkinson's disease (phase II).
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