What is the status with the Santurus overtime lawsuit? http://www.marketwatch.com/story/pla...012-01-25-8000 . 25, 2012, 8:00 a.m. EST Plaintiff Sales Representatives and Novartis Pharmaceuticals Corporation Resolve Class Action Wage and Hour Claims --Company to resolve wage and hour claims with one-time payment of up to 99 million dollars for eligible class members --Novartis Pharmaceuticals Corporation remains committed to compensate all employees in accordance with US Fair Labor Standards Act (FLSA) and applicable state laws EAST HANOVER, N.J., Jan. 25, 2012 /PRNewswire via COMTEX/ -- Novartis Pharmaceuticals Corporation (NPC) and Sanford Wittels & Heisler, LLP, Counsel to the Plaintiffs and the Class, today announced an agreement to resolve the nationwide Wage and Hour class action against NPC currently pending in the US District Court for the Southern District of New York. NPC has agreed to end the ongoing proceedings and provide a payment of up to 99 million dollars for eligible class members. This settlement resolves the wage and hour claims brought in 2006, as well as additional wage and hour claims covering a more recent time period. "We are pleased to have secured a 99 million dollar settlement wherein Novartis compensates it sales representatives for years of overtime pay," explained David Sanford, lead counsel for the Plaintiffs. "While we remain confident that the United States Supreme Court later this year will uphold the Department of Labor's interpretation of wage and hour law, the risks of further litigation are great. We are proud that over seven thousand current and former Novartis sales representatives will be able to participate in this settlement. It is a fair and equitable result and can serve as an exemplar for companies around the United States that face wage and hour litigation." The agreement remains subject to final court approval, which may take several months. About Novartis
