1 00:00:00,080 --> 00:00:03,040 Speaker 1: And now it's time for our Bloomberg Law Report. Let's 2 00:00:03,040 --> 00:00:05,520 Speaker 1: get to the legal stories we're watching this morning with 3 00:00:05,559 --> 00:00:11,600 Speaker 1: Adrian Mitchell and the Bloomberg One Washington news Room. Senate 4 00:00:11,600 --> 00:00:15,440 Speaker 1: Republicans want to remove the fate of the Dreamers, undocumented 5 00:00:15,440 --> 00:00:18,680 Speaker 1: immigrants brought to the US illegally as children, from the 6 00:00:18,720 --> 00:00:22,560 Speaker 1: list of potential hurdles in urins bending talks. It would 7 00:00:22,600 --> 00:00:27,000 Speaker 1: be considered as separate legislation. Several of the biggest US companies, 8 00:00:27,040 --> 00:00:30,000 Speaker 1: including Apple and Procter and Gamble, would no longer be 9 00:00:30,080 --> 00:00:33,440 Speaker 1: able to escape taxes on the trillions and overseas profits 10 00:00:33,440 --> 00:00:37,239 Speaker 1: they've accumulated under a tax bill released by House Republicans, 11 00:00:37,520 --> 00:00:41,200 Speaker 1: and to develop new regulations. The FAA is looking for city, 12 00:00:41,280 --> 00:00:45,400 Speaker 1: states and companies that want to test drones. Bloomberg Law 13 00:00:45,720 --> 00:00:49,919 Speaker 1: everything you need, all on one legal research platform, including 14 00:00:49,960 --> 00:00:54,200 Speaker 1: guidance analysis and Bloomberg Market Intelligence. Find out more at 15 00:00:54,240 --> 00:00:59,120 Speaker 1: Bloomberg Law dot com. Now, in other legal news, let's 16 00:00:59,160 --> 00:01:01,960 Speaker 1: take a look at a multi year investigation by dozens 17 00:01:02,000 --> 00:01:05,480 Speaker 1: of state attorneys general which has revealed a global price 18 00:01:05,560 --> 00:01:09,200 Speaker 1: fixing conspiracy and the generic drug industry reaching all the 19 00:01:09,240 --> 00:01:12,160 Speaker 1: way to the President of Myelon. For more on this story, 20 00:01:12,200 --> 00:01:14,680 Speaker 1: Bloomberg lahou is doing Rosso and Michael Best speak with 21 00:01:14,800 --> 00:01:19,440 Speaker 1: Jennifer Ree, a senior litigation analyst for Bloomberg Intelligence. Jen, 22 00:01:19,560 --> 00:01:21,919 Speaker 1: let's talk about some of the evidence, because it doesn't 23 00:01:21,920 --> 00:01:24,720 Speaker 1: seem like there was a serious attempt to conceal the 24 00:01:24,800 --> 00:01:28,600 Speaker 1: drugmaker's activities. You know, that's right, and on the outside, 25 00:01:28,600 --> 00:01:31,480 Speaker 1: we're a little bit um. It's difficult to understand what 26 00:01:31,520 --> 00:01:33,880 Speaker 1: all this evidence is because it's a very long complaint. 27 00:01:33,920 --> 00:01:36,479 Speaker 1: There's clearly a lot of evidence, but it's all redacted 28 00:01:36,760 --> 00:01:39,160 Speaker 1: because this comes out of the company's emails, that comes 29 00:01:39,160 --> 00:01:43,000 Speaker 1: out of the you know, transcripts of chat rooms, um 30 00:01:43,120 --> 00:01:47,120 Speaker 1: and of eye texts. And the problem is that, you know, 31 00:01:47,160 --> 00:01:49,880 Speaker 1: we don't really know what it says. But the Attorney 32 00:01:49,880 --> 00:01:52,480 Speaker 1: General has said over and over again, even starting a 33 00:01:52,560 --> 00:01:56,800 Speaker 1: year ago, that what they believe they've seen overwhelming evidence 34 00:01:57,280 --> 00:02:01,480 Speaker 1: of a vast conspiracy and over arching conspiracy, conspiracy as 35 00:02:01,520 --> 00:02:05,640 Speaker 1: well as specific conspiracies among certain companies that had certain drugs. Jen, 36 00:02:06,160 --> 00:02:09,600 Speaker 1: why would they feel the need to go individually after 37 00:02:10,200 --> 00:02:12,520 Speaker 1: the executives of the companies rather than just suing the 38 00:02:12,560 --> 00:02:15,679 Speaker 1: companies themselves. You know, I think it's a it's a 39 00:02:15,760 --> 00:02:18,720 Speaker 1: it's a good question because they don't they don't necessarily 40 00:02:18,800 --> 00:02:22,080 Speaker 1: necessarily have to do that. What they said here was 41 00:02:22,120 --> 00:02:26,639 Speaker 1: that they believe this is a massive conspiracy. They believe 42 00:02:26,680 --> 00:02:29,560 Speaker 1: that it is fairly blatant, and they want to hold 43 00:02:29,600 --> 00:02:33,160 Speaker 1: people responsible. So some of this could be just purely 44 00:02:33,200 --> 00:02:37,080 Speaker 1: on principle, holding these executives responsible, but it also could 45 00:02:37,080 --> 00:02:40,440 Speaker 1: be to put pressure on others perhaps to come in, 46 00:02:41,080 --> 00:02:44,000 Speaker 1: you know, agree to cooperate. Well, Jen, you got forty 47 00:02:44,040 --> 00:02:47,680 Speaker 1: five states. Are what kind of relief is it that 48 00:02:47,760 --> 00:02:50,760 Speaker 1: they're going to want to see across all these companies. 49 00:02:51,120 --> 00:02:54,640 Speaker 1: What they're seeking here is disgorgement of ill gotten gains. 50 00:02:54,680 --> 00:02:57,560 Speaker 1: So they're looking at what these companies, um, how they 51 00:02:57,680 --> 00:03:02,320 Speaker 1: profited given the the art officially increased prices, and they're looking, 52 00:03:02,400 --> 00:03:04,320 Speaker 1: you know, they're going to be protecting consumers in their 53 00:03:04,320 --> 00:03:06,680 Speaker 1: own state as well as trying to get reimbursement for 54 00:03:06,720 --> 00:03:11,160 Speaker 1: state governmental agencies um where those agencies might have overpaid 55 00:03:11,200 --> 00:03:14,360 Speaker 1: for drugs. Remember that this is just one piece though, 56 00:03:14,440 --> 00:03:17,560 Speaker 1: of sort of a triple threat against these companies, because 57 00:03:17,560 --> 00:03:21,040 Speaker 1: they're also facing private class actions as well as the 58 00:03:21,120 --> 00:03:24,919 Speaker 1: Department of Justice investigation. So they may be fined as 59 00:03:24,960 --> 00:03:28,079 Speaker 1: well as penalized if they end up with a judgment 60 00:03:28,480 --> 00:03:31,480 Speaker 1: in the private actions or settle the private actions. That's 61 00:03:31,560 --> 00:03:35,600 Speaker 1: Jennifer Ree, a senior litigation analyst for Bloomberg Intelligence, speaking 62 00:03:35,600 --> 00:03:38,360 Speaker 1: with Bloomberg's Doom Grosso and Michael Best. You can listen 63 00:03:38,360 --> 00:03:41,000 Speaker 1: to Bloomberg Law weekdays at one pm Wall Street Time 64 00:03:41,080 --> 00:03:44,160 Speaker 1: here on Bloomberg Radio, and find more illegal news at 65 00:03:44,160 --> 00:03:47,800 Speaker 1: Bloomberg Law dot com. Attorney so find exceptional legal research 66 00:03:47,800 --> 00:03:51,400 Speaker 1: and business development tools there as well. Visit Bloomberg Law 67 00:03:51,440 --> 00:03:53,760 Speaker 1: dot com for more information.