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SUBSEQUENT EVENTS
12 Months Ended
Dec. 31, 2014
SUBSEQUENT EVENTS.  
SUBSEQUENT EVENTS

19.SUBSEQUENT EVENTS

 

The Company was awarded a final judgment against BD for $352 million plus prejudgment and post-judgment interest.

 

Additionally, BD is currently required to follow the Court’s order for injunctive relief, except that the notifications to end-user customers are stayed pending appeal.  The injunctive relief included:

 

(1) enjoining BD’s use of “World’s Sharpest Needle” or any similar assertion of superior sharpness;

 

(2) requiring notification to all customers who purchased BD syringe products from July 2, 2004 to date that BD wrongfully claimed that its syringe needles were sharper and that its statement that it had “data on file” was false and misleading;

 

(3) requiring notification to employees, customers, distributors, GPOs, and government agencies that the deadspace of the VanishPoint® has been within ISO standards since 2004 and that BD overstated the deadspace of the VanishPoint® to represent that it was higher than some of BD’s syringes when it was actually less, and that BD’s statement that it had “data on file” was false and misleading, and, in addition, posting this notice on its website for a period of three years;

 

(4) enjoining BD from advertising that its syringe products save medication as compared to VanishPoint® products for a period of three years;

 

(5) requiring notification to all employees, customers, distributors, GPOs, and government agencies that BD’s website, cost calculator, printed materials, and oral representations alleging BD’s syringes save medication as compared to the VanishPoint® were based on false and inaccurate measurement of the VanishPoint®, and, in addition, posting this notice on its website for a period of three years; and

 

(6) requiring the implementation of a comprehensive training program for BD employees and distributors that specifically instructs them not to use old marketing materials and not to make false representations regarding VanishPoint® syringes.

 

On March 24, 2015, the Board of Directors declared a dividend on the Series I Class B Stock and Series II Class B Stock in the aggregate amount of $170,817, subject to certain conditions. The dividends will be paid subsequent to meeting such conditions.