Navigation Links
Simmons Firm Announces Settlement of Contingent Fee Antitrust Lawsuit
Date:5/3/2010

EAST ALTON, Ill., May 3 /PRNewswire/ -- Simmons Browder Gianaris Angelides & Barnerd LLC of East Alton, Ill., today announced the resolution of their client Synergetics USA, Inc.'s (Nasdaq: SURG) antitrust lawsuit pending against Alcon Laboratories, Inc., and Alcon, Inc.  Synergetics announced on April 27, 2010, that it had entered into a Settlement and Licensing Agreement and a Supply Agreement with Alcon, pursuant to which all litigation between the companies would be settled and Alcon would receive a license to sell certain Synergetics-patented products.  Alcon will pay Synergetics $32 million in the arrangement. 

A team of lawyers from the Simmons firm represented Synergetics in the antitrust litigation. In a unique approach to commercial litigation, the firm took on the high-risk litigation under a contingency fee arrangement, whereby Synergetics would pay attorneys' fees only as a percentage of any recovery in the case.  Traditionally, commercial litigation is pursued by outside counsel paid at ever-increasing hourly rates.   

"High-end litigation, particularly in a field like antitrust, typically commands exorbitant hourly billing rates for lawyers," said Derek Brandt, the Simmons firm partner who spearheaded the firm's efforts in the case.  "Our willingness to take the case on a contingency basis meant that a relatively small company like Synergetics could pursue a high-stakes litigation against an infinitely larger competitor. We shared the risk with our client and reached a very gratifying result."  Under the contingent fee agreement, Synergetics will pay its outside counsel $10.5 million.      

Synergetics and Alcon compete in the sale of light sources and instruments and tools used in vitreoretinal surgery, a highly specialized area of ophthalmological surgery focusing on procedures in the posterior (back) portion of the eye.  Surgeons use a primary piece of equipment known as a vitrectomy machine to perform vitreoretinal procedures. 

Lawyers from the Simmons firm filed the antitrust lawsuit in the United States District Court for the Southern District of New York in April, 2008.  The suit alleged that Alcon engaged in certain anti-competitive conduct in the market for vitreoretinal surgical equipment and supplies.  Synergetics' allegations included that Alcon used the market power enjoyed by its vitrectomy machine in an unlawful manner, forcing surgeons to purchase from Alcon the ancillary instruments, tools, and external light sources used in vitreoretinal surgeries.  Most notably, Synergetics alleged that Alcon unlawfully tied the sale of its fiberoptic illuminator to the sale of single-use disposable cassettes necessary to operate the Alcon vitrectomy machine. 

The Simmons firm worked closely with co-counsel Hanly Conroy Bierstein Sheridan Fisher & Hayes LLP of New York, New York.  The case was Synergetics USA, Inc. v. Alcon Laboratories, Inc. and Alcon, Inc., 2008-cv-3669 (DLC).

About Simmons Browder Gianaris Angelides & Barnerd LLC

The Simmons firm is a leading national law firm in mesothelioma and asbestos litigation, intellectual property litigation, pharmaceutical litigation, and commercial litigation.  With offices in Illinois and California, the Simmons firm's contingency-based fee structure gives businesses equal access to the legal system.  For more information about the Simmons firm, visit http://www.simmonsfirm.com.


'/>"/>
SOURCE Simmons Browder Gianaris Angelides & Barnerd LLC
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Simmons Firms Partner Trent Miracle Chosen to Help Lead National Litigation Against Bayer
2. Dendreon Announces Publication of Phase 1 Study Highlighting Immunologic and Clinical Activity of Lapuleucel-T (Neuvenge(R)) in Advanced Breast Cancer Patients
3. EDAP Announces Launch of Clinical Study Combining HIFU and Chemotherapy for Localized Aggressive High Risk Prostate Cancer
4. Cephalon Announces Positive Results from a Pivotal Study of FENTORA in Opioid-tolerant Patients with Non-cancer Breakthrough Pain
5. ADVENTRX Announces Fast Track Designation Granted By the FDA For CoFactor For the Treatment of Metastatic Colorectal Cancer
6. DOV Pharmaceutical, Inc. Announces Successful Phase Ib Results for DOV 21,947
7. Phosphagenics Announces Positive Phase 1b Transdermal Insulin Clinical Trial Results
8. Xenomics Announces Implementation of its First Diagnostic Test for Acute Myeloid Leukemia Into Clinical Practice
9. Emisphere Technologies, Inc. Announces 2007 Second Quarter Financial Results
10. Amicus Therapeutics Announces Second Quarter 2007 Financial Results
11. Genta Incorporated Announces Second Quarter 2007 Financial Results and Corporate Highlights
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/20/2017)... Feb. 20, 2017  This report analyzes the worldwide markets ... Million. The report provides separate comprehensive analytics for the ... , Europe , ... and Rest of World. Read the ... and forecasts are provided for the period 2015 through ...
(Date:2/20/2017)... Feb. 20, 2017 Research and Markets has ... Insights, Opportunity, Analysis, Market Shares & Forecast 2017 - 2022" ... ... nearly USD 2 Billion by the year end of 2022 growing ... Market growth can be attributed to factors such as ...
(Date:2/20/2017)... -- Seal Shield LLC ( Jacksonville, FL ... management and disinfection, the ElectroClave™, to the exhibit floor ... Orlando, Fla. from February 20-23, 2017 ... commonplace in today,s healthcare landscape, but with this progression ... the disinfection and tracking of these devices.  The ElectroClave™ ...
Breaking Medicine Technology:
(Date:2/20/2017)... FL (PRWEB) , ... February 20, 2017 , ... ... gift from Constellation Brands to purchase a new ultrasound-enhanced thrombolysis machine, a state-of-the-art ... waves. The gift was facilitated by the Pepin Family Foundation. , “We greatly ...
(Date:2/19/2017)... (PRWEB) , ... February 19, 2017 , ... Braun Industries ... JEMS Conference & Exposition, the event will take place February 23-25, 2017 at the ... will be in Booth #909 with three new ambulances on display. ...
(Date:2/19/2017)... ... February 19, 2017 , ... ... result in better care, and MEDfx and the Delaware Health Information Network (DHIN) ... , As the nation’s first state-wide health information exchange, DHIN stores and shares ...
(Date:2/18/2017)... ... February 17, 2017 , ... ... by Axendia, **FDAnews Free Webinar**, March 1, 2017 — 1:30 p.m. – ... their regulatory burden? Pay dividends in enhanced and predictable product performance? Streamline ...
(Date:2/18/2017)... ... , ... Butler Mobility invited Ken Matthews to visit its manufacturing facility and ... was impressed with the safety and reliability of the Stannah Stairlift as well as ... This endorsement by Ken Matthews can be heard on News Radio WHP 580 weekdays ...
Breaking Medicine News(10 mins):