Overtime Lawsuit


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on 5/31/2012 Novartis will be back in court to get approval for the proposed settlement. It is expected to be a mere formality. I would suspect it will be 60-90 days before we get any monies due to us.
 




















there was no envelope or instructions to opt-in in my packet....it stated the different groupings and you could figure out which group you were a part of.....but nothing else to do.
 




I called administrator of Lawsuit a couple of weeks ago. They stated that if you received this letter u were opted in. It stated in the letter that u are part of the lawsuit and settlement thats why u received the letter in the first place.

they said right after 5/31 they will mail out letters teling each person what they will receive in $$. Checks will be mailed out within 2 weeks after this letter.
 












OK stud.....explain it to me. Maybe someone should explain what cash does for a business dipshit. This company may be full of shit and self serving but you are truly a dipshit with zero business accumen.

So you are saying that if a company has $11 billion in liquid assets, it can't be bought?

So what would you say is the maximum value a company can have before it is no longer able to be bought?
 




Looks like they may be dragging their feet awaiting the outcome of the decision below:

Billions at stake over status of pharma reps. The Supreme Court yesterday heard arguments about whether pharmaceutical company representatives who promote their employers' medicines at doctors' offices are "salesmen" and therefore not entitled to overtime pay. If the court decides otherwise and the reps should be given overtime, the drug companies could face billions of dollars of liabilities. The defendant is GlaxoSmithKline (GSK). (Source - NYT) - from Seeking Alpha
 




I had an attorney look at the letter we received a month or so ago. He said the SKB lawsuit doesn't have anything to do with the Novartis lawsuit. Novartis has decided to settle rather than risk the outcome of that suit. If the reps win in the SKB suit and Novartis has not settled it could cost them a lot more. The attorney was surprised Novartis was willing to settle so quickly. Hope this answers any questions.