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(Washington, D.C., January 19, 2016). Today, Larry Klayman, counsel for individual plaintiffs who were seriously harmed by the dangerous drug Levaquin, brought suit in the U.S. District Court for the District of Columbia alleging violations of the Racketeering and Corrupt Organizations Act ("RICO"), the Lanham Act, and a variety of common law torts. At the heart of this scandal is former FDA Commissioner, Dr. Margaret Hamburg, appointed by the Obama administration, and her husband Peter Brown, co-CEO of Renaissance Technologies, L.L.C., a major hedge fund in New York. While Dr. Hamburg was head of the FDA, her husband profited enormously from as much as half a billion dollars in Johnson & Johnson stock, the maker of Levaquin, held by Renaissance Technologies.
Levaquin is a drug intended to treat a range of infections, including routine sinus, skin and urinary tract infections.
The complaint alleges Dr. Hamburg and her husband, as well as others at Renaissance Technologies, L.L.C., conspired with Johnson and Johnson and other defendants to suppress information about the harmful effects of Levaquin. To reveal it would not only harm Johnson and Johnson's profits, but also invite significant lawsuits and drive the price of Johnson and Johnson stock downward, thereby financially harming Dr. Hamburg, her husband and Renaissance Technologies' profits. Plaintiffs were the unwitting victims, suffering from a variety of medical conditions, some of which were just recently disclosed at an FDA Advisory Committee Hearing on November 5, 2015.
The U.S. Food and Drug Administration met November 5, 2015, to discuss the risks and benefits of using fluoroquinolones on patients with bronchitis, sinusitis, and urinary tract infections. Fluoroquinolone drugs are a powerful class of antibiotic drugs and include brand names Cipro, Levaquin, and Avelox.
Fluoroquinolone antibiotics have been linked to a list of serious sideeffects. The FDA cited adverse event reporting from patients highlighting a “constellation of symptoms” that is referred to as Fluoroquinolone-Associated Disability, or FQAD.
Full text of lawsuite here - dunno how he's going to prove Renaissance had any involvement here, but J&J absolutely guilty of covering up serious side effect data: