Pfizer, Exxon Find U.S. Justices as Shareholders May Cost Them

[flashl]

March 7 (Bloomberg) -- U.S. Chief Justice John Roberts is one shareholder Pfizer Inc. might be better off without.

Roberts's Pfizer stake, which is worth between $15,001 and $50,000, almost certainly led to a Supreme Court deadlock this week that allowed lawsuits over the company's Rezulin diabetes drug. Roberts, 53, didn't take part in the case, and the court split 4-4, leaving Pfizer one vote short of stopping the suits.

"If you're on the industry side, it kills you that Roberts recused himself,'' said Mark Herrmann, a product-liability lawyer at Jones Day in Chicago. "That's your fifth vote.''

Roberts's recusal, and others this term, have fueled calls for the nine justices to shed their stock holdings and put the money into funds or other investments less likely to create a conflict of interest.

...

The Pfizer and Exxon cases are among six scheduled cases the court is considering in the 2007-08 term without all nine justices. The 4-4 split in the Pfizer case is the second of the term for the court, which also divided evenly when Justice Anthony Kennedy didn't participate in a special-education case.

...

Alito's absence from the Exxon Mobil case might deprive the company of the fifth vote it needs to wipe out the damage award or get a new trial. Instead, the court may simply order a reduction in the record $2.5 billion award.

Bloomberg

:nopity:

[elehhhhna]

1. tony-montana-scarlito of course is above all this and never recuses hisownself

[RUMMYisFROSTED]

2. No shit about the violin.

[yourout]

3. Wow Roberts actually showed he knows what a conflict of interest is.

I am not betting that Alito will recuse though.

[aquart]

5. Yeah. That's a shock all by itself.

[skids]

4. hah! k&r

Incest takes its toll, I see. :rofl:

[williesgirl]

6. Hope they all own in stock in every EVIL corporation in this country! rec'd