Place: Third and Constitution Avenues, N.W.
Courtroom 18 of Judge Richard J. Leon
PRESS CONFERENCE TO FOLLOW ON COURTROOM STEPS
(Washington, D.C., July 27, 2016) Tomorrow, the Honorable Richard J. Leon will hold oral arguments on a case brought by Larry Klayman, a former federal prosecutor and founder of Judicial Watch and Freedom Watch, on behalf of the victims of the deadly drug Levaquin.
Arguments before the Court will focus on the defendants, former FDA Commissioner Dr. Margaret Hamburg, her husband Peter Brown and his billion dollar hedge fund, Renaissance Technologies, L.L.C., and Johnson & Johnson, having allegedly engaged in a criminal racketeering conspiracy to inflate the price of Johnson & Johnson stock by suppressing material information about the deadly dangers of Levaquin, an antibiotic used for routine infections.
As can be verified independently from U.S. Securities & Exchange Commission reports, Renaissance Technologies, the hedge fund for which Hamburg’s husband, Peter Brown, serves as Co-CEO, held as much as half a billion dollars in Johnson & Johnson stock while Hamburg was FDA Commissioner. Thus, as alleged in the amended complaint, if Hamburg had allowed the FDA to disclose Levaquin dangers, which already has killed over 5,000 persons and left tens of thousands debilitated with life-threatening illnesses, it would have had a negative impact on the stock her husband’s company held in Johnson & Johnson. Instead, Hamburg, her husband, Renaissance, and Johnson & Johnson are alleged to have profited handsomely.
Larry Klayman, lawyer for several victims, has this to say:
“The alleged criminal corruption we are seeking to remedy in this case is typical of the greedy and compromised politicians that infest Washington, D.C. It helps explain why the political establishment and their lobbyist friends at companies like Johnson & Johnson are being shown the door by the voters during this year’s election. By asking for $120,000,000 in damages and $750,000,000 in punitive damages, if the victims are successful, they will put a chink in the sides of these alleged criminals and send a loud message that this misconduct will no longer be tolerated.”
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