Speaker 1: And now it's time for our Bloomberg Law Report. Let's
Speaker 1: get to the legal stories we're watching this morning with
Speaker 1: Adrian Mitchell and the Bloomberg One Washington news Room. Senate
Speaker 1: Republicans want to remove the fate of the Dreamers, undocumented
Speaker 1: immigrants brought to the US illegally as children, from the
Speaker 1: list of potential hurdles in urins bending talks. It would
Speaker 1: be considered as separate legislation. Several of the biggest US companies,
Speaker 1: including Apple and Procter and Gamble, would no longer be
Speaker 1: able to escape taxes on the trillions and overseas profits
Speaker 1: they've accumulated under a tax bill released by House Republicans,
Speaker 1: and to develop new regulations. The FAA is looking for city,
Speaker 1: states and companies that want to test drones. Bloomberg Law
Speaker 1: everything you need, all on one legal research platform, including
Speaker 1: guidance analysis and Bloomberg Market Intelligence. Find out more at
Speaker 1: Bloomberg Law dot com. Now, in other legal news, let's
Speaker 1: take a look at a multi year investigation by dozens
Speaker 1: of state attorneys general which has revealed a global price
Speaker 1: fixing conspiracy and the generic drug industry reaching all the
Speaker 1: way to the President of Myelon. For more on this story,
Speaker 1: Bloomberg lahou is doing Rosso and Michael Best speak with
Speaker 1: Jennifer Ree, a senior litigation analyst for Bloomberg Intelligence. Jen,
Speaker 1: let's talk about some of the evidence, because it doesn't
Speaker 1: seem like there was a serious attempt to conceal the
Speaker 1: drugmaker's activities. You know, that's right, and on the outside,
Speaker 1: we're a little bit um. It's difficult to understand what
Speaker 1: all this evidence is because it's a very long complaint.
Speaker 1: There's clearly a lot of evidence, but it's all redacted
Speaker 1: because this comes out of the company's emails, that comes
Speaker 1: out of the you know, transcripts of chat rooms, um
Speaker 1: and of eye texts. And the problem is that, you know,
Speaker 1: we don't really know what it says. But the Attorney
Speaker 1: General has said over and over again, even starting a
Speaker 1: year ago, that what they believe they've seen overwhelming evidence
Speaker 1: of a vast conspiracy and over arching conspiracy, conspiracy as
Speaker 1: well as specific conspiracies among certain companies that had certain drugs. Jen,
Speaker 1: why would they feel the need to go individually after
Speaker 1: the executives of the companies rather than just suing the
Speaker 1: companies themselves. You know, I think it's a it's a
Speaker 1: it's a good question because they don't they don't necessarily
Speaker 1: necessarily have to do that. What they said here was
Speaker 1: that they believe this is a massive conspiracy. They believe
Speaker 1: that it is fairly blatant, and they want to hold
Speaker 1: people responsible. So some of this could be just purely
Speaker 1: on principle, holding these executives responsible, but it also could
Speaker 1: be to put pressure on others perhaps to come in,
Speaker 1: you know, agree to cooperate. Well, Jen, you got forty
Speaker 1: five states. Are what kind of relief is it that
Speaker 1: they're going to want to see across all these companies.
Speaker 1: What they're seeking here is disgorgement of ill gotten gains.
Speaker 1: So they're looking at what these companies, um, how they
Speaker 1: profited given the the art officially increased prices, and they're looking,
Speaker 1: you know, they're going to be protecting consumers in their
Speaker 1: own state as well as trying to get reimbursement for
Speaker 1: state governmental agencies um where those agencies might have overpaid
Speaker 1: for drugs. Remember that this is just one piece though,
Speaker 1: of sort of a triple threat against these companies, because
Speaker 1: they're also facing private class actions as well as the
Speaker 1: Department of Justice investigation. So they may be fined as
Speaker 1: well as penalized if they end up with a judgment
Speaker 1: in the private actions or settle the private actions. That's
Speaker 1: Jennifer Ree, a senior litigation analyst for Bloomberg Intelligence, speaking
Speaker 1: with Bloomberg's Doom Grosso and Michael Best. You can listen
Speaker 1: to Bloomberg Law weekdays at one pm Wall Street Time
Speaker 1: here on Bloomberg Radio, and find more illegal news at
Speaker 1: Bloomberg Law dot com. Attorney so find exceptional legal research
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