PHOENIX, ARIZONA, June 19, 2008 - The Legal Broadcast Network (LBN) - an internet media company designed to leverage the powerful broadcasting medium of the internet to reach a very specific, high value audience of trial lawyers and other legal professionals announced today that Tim Butler, a seasoned executive with 20+ years experience in fostering the growth of emerging growth companies, has been named its President and Chief Executive Officer. As President of LBN, Mr. Butler will be responsible for overall operations and the implementation of related strategies associated with the growth plans for the company.
Mr. Butler most recently served as Executive Vice President and Chief Operating Officer for DBL Distributing, a large private company with sales of nearly $300 million with approximately 350 employees. DBL, one of the nation's top distributors of consumer electronics accessories and related products, was sold to Ingram Micro in 2007. Mr. Butler was formerly Vice President of Finance and Administration for the training division of Platinum Technology that was acquired in 1999 by Computer Associates for $3.5 billion, which at the time was the largest software acquisition in history. Mr. Butler holds a degree in Business from North Adams State College and has a Masters degree in Accounting from the University of Massachusetts Amherst.
"We are extremely pleased to have Tim Butler join the LBN team as Chief Executive Officer and President. To attract a person with his experience and track record to help guide the company's growth from its current successful platform is a major milestone for LBN," Mark Wahlstrom, chairman of Legal Broadcast Network said. "And, having The Miller Group as our financial advisor and now an equity owner confirms our belief in the relationship we are building with them."
Tim Butler, chief executive officer and president commented, "My past experience is centered in the development of a number of growth oriented technology related companies utilizing my business and financial skill sets. The tremendous opportunity for growth in LBN's technology and specialized internet media content was a major part of my decision to accept this position. As an LBN executive who was able to participate in the venture capital round of financing for the company, I am excited to be an integral part of building our team and contributing to LBN's goal to be an industry leader."
Rudy R. Miller, chairman of Miller Capital Corporation, Scottsdale-based venture capital and financial services firm stated, "Our firm was lead investor regarding the first round of venture equity investment, and Miller Capital Markets, LLC our affiliate FINRA investment banking firm, acted as placement agent for the balance of funding provided to LBN for its next stage growth plan. We have invested in and represented a number of media companies over the years, including JACOR Communications, REGENT Communications, Bowlin Outdoor Advertising and publishers of the Ritz Carlton magazine, as well as being the majority investor in a syndicated television/cable business show - "Wall Street Awareness Network" and numerous other public and private companies. Our firm is pleased to assist LBN in what we consider its excellent opportunities for growth and look forward to advising the company as a meaningful equity holder."
The defibrillator leads removed earlier this month by Medtronic, Inc. and which have been in wide use since 2004 and implanted in nearly 300,000 patients have been found to have an electrical lead defect placing all implanted patients at serious risk of harm. The company has announced that at least five deaths thus far are directly related to this defect, which affects models 6930, 6931, 6948 and 6949 of the Sprint Fidelis leads. The company projects that at least four to five thousand patients with these defective leads will experience a “fracture” within the next 30 months and has encouraged physicians as a result to discontinue implantation of this device in cardiac patients requiring defibrillators the Sprint Fidelis Lead wire attaches the Medtronic implantable defibrillator to the heart and has been shown since its market introduction to have a continuing fracture problems which can cause the defibrillator to deliver a massive and painful electrical shock, or cause device failure Lead failures requires dangerous and life threatening surgical intervention which can prove damaging to heart muscle, or fatal. This corrective surgery, ironically, carries far greater risk to the patient, than having the device replaced.
The device places children and young adults at particular risk, since the device was particularly suited to these patients due to its smaller diameters. Medtronic has reported failure rate at 2.3 per cent after 30 months, although at least one independent study demonstrated fracture rates of 4.9 per cent. While the leads place all patients at risk of harm, many physicians, according to recent reports in the Wall Street Journal, have elected to defer pre-emptive replacement since replacement surgery carries potentially greater risk than that of the lead’s fracturing.
If you or a family member have had a Fidelis lead implanted since 2004, you may have a claim. Call the Ashkin Law Firm to learn more about your legal rights.
Three victims of Hormone Replacement Therapy-induced breast cancer have been awarded $99 million dollars in punitive damages against Wyeth pharmaceutical, which produced the drugs Premarin and Prempro. The judgment- the largest to date- was returned in Reno, Nevada, after the jury determined that Wyeth had acted with malice by concealing material facts about the products safety.
Prempro and Premarin- along with a number of other estrogen and progestin products have been marketed for years to peri-menopausal and menopausal women for relief of menopausal symptoms. Nearly 8 thousand claims are still pending around the country on behalf of women who maintain that they were induced into using these drugs over the long term without a full appreciation of the serious carcinogenic consequences which the drug’s long term ingestion and use pose.
The diabetes drug Avandia manufactured by GlaxoSmithKline PLC is coming under new scrutiny as the FDA commences public hearings about the drug’s safety. The agency¹s drug-safety analysts have begun a skeptical review of Glaxo¹s internal research which may confirm earlier concerns that that Avandia may be linked to a much as a 38% higher risk of ischemic events such as heart attacks as well as other cardiac diseases. The agency will also consider the risks of other available diabetes remedies including Actos ( by Japan¹s Takeda Pharmaceutical Company), which has a similar action to Avandia. The agency will seek advisory review as to whether these medications remain on the US market.( Wall Street Journal July 27, 2004 Page B4). Other risks reportedly linked to the Tpye-2 diabetes drug include primary pulmonary hypertension, a cardiac irregularity characterized by dangerously elevated arterial blood pressure in the pulmonary artery as well as edema or swelling of the hands and ankles, excessive weight gain and liver failure.
Trasylol- a widely used heart surgery medicine increases long-term user’s risk of dying by nearly 50 per cent. According to a Public Health Advisory issued by the FDA, the giant pharmaceutical manufacturer Bayer failed to advise the FDA of a study which associated this controversial heart drug to increased risk of death, serious kidney damage, congestive heart failure and strokes. Trasylol also known as aprotinin is given during heart surgery (most commonly during coronary artery by pass graft surgery or CABG; to assist in controlling excess amounts of blood loss. Most patients don’t even know that they have been administered the drug. In early 2006, the New England Journal of Medicine reported that in a review of 4374 cases, Trasylol patients suffered twice the risk of renal failure and a 55 % increase in occurrences of heart failure and heart attack. An FDA advisory was issued to physicians on February 9, 2006 warning them to restrict Trasylol use in CABG procedures. Although it is reported that generic drug use in lieu of Trasylol would reduce the incidence of renal failure alone by 9,000 patients, Bayer continues to dispute these findings. It is estimated that nearly one million patients have been given this dangerous drug.
Zelnorm, or tegaserod maleate, was recently removed from the market ( March 2007) after reports that the risks of serious harmful effects, including heart attacks and stroke, greatly exceeded the benefits. The drug, manufactured by Novarits was widely used to treat short term irritable bowel syndrome or IBS and chronic constipation. But a pooled analysis of 29 short term trials showed statistically significant increases in heart related injury and death. Thirteen people in trials suffered ischemic events includes stroke, resulting in one fatality. The drug had been widely used with reported sales reaching over $400 million dollars in 2006.
The FDA has announced a recall of salmonella contaminated peanut butter manufactured by ConAgra at its Sylvester, Georgia plant. The peanut butter was sold nationally as Peter Pan peanut butter, and as Great Value peanut butter (a WalMart brand).
On February 13, 2007 U.S. Food & Drug Administration (FDA) issued a warning to consumers based upon a study performed by Centers for Disease Control and Prevention (CDC) and state and local health agencies. The study originally connected 288 cases of food borne illness in 39 states to consumption of certain types of Peter Pan peanut butter.
Symptoms of salmonella infection include diarrhea, fever and abdominal cramps. The elderly, infants, and those with compromised immune symptoms are especially vulnerable to more severe symptoms. In some cases patients develop Reiter’s Syndrome, an arthritis-like condition characterized by by joint pain, eye irritation and painful urination.
Salmonella diagnosis is made by a positive stool culture.
If you or someone you know has become sick with Salmonella food poisoning after eating peanut butter, you should seek medical attention immediately.
A Philadelphia jury has found that Wyeth's hormone replacement therapy Prempro was a cause of a woman's breast cancer and awarded her and her husband damages of $3 million, Wyeth says it plans to appeal the verdict.
The Plaintiff Jennie Nelson was awarded 2.4 million dollars, Her husband, was awarded 600,000. Nelson of Dayton, Ohio, took Prempro for about six years and blamed it for her breast cancer. She underwent a double mastectomy and required chemotherapy and radiation treatments.
"We respectfully disagree that there is any scientific basis to support the jury's finding of a causal link between Wyeth's hormone therapies and the plaintiff's breast cancer," Wyeth's attorney Barbara Binis said in a statement.
Madison, New Jersey-based Wyeth has argued that it acted responsibly in promoting of its hormone replacement drugs and in disclosing to physicians and patients the health risks associated with them.
Wyeth is facing some 5,000 lawsuits over its hormone replacement therapies, which were used by millions of women to control the effects of menopause. The drugs remain on the market despite a major government-sponsored health study that found using them for five years or more can increase the risk of breast cancer
A New Jersey jury has found that the pharmaceutical manufacturer Merck was negligent and did not properly warn doctors about the cardiovascular risks in the case of one former Vioxx user who survived a heart attack. The ruling sets the stage for a second phase of the trial to consider whether the man, Frederick Humeston of Boise, Idaho, deserves compensatory and punitive damages.
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Roberta Ashkin, Esq.
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