Sports Calendar

Claim your free 2010 double sided wall chart

Navigation - link to other main sections from here

Skip Navigation

From The Times
September 14, 2007

Risky game

Patrick Hosking

The push by two British local authority pension funds to lead a US class-action lawsuit against GlaxoSmithKline reveals not just investor impatience with the poorly performing drugs company, but also a new pugnacity among some UK institutions.

The Avon and North Yorkshire funds want to sue the company for allegedly misrepresenting the prospects for its troubled diabetes pill, Avandia. It is sometimes right for pension trustees to go after compensation on behalf of their members, but there are costs to moving to US-style litigation. Shareholders who are still investors end up indirectly suing themselves. The proceeds are rarely divvied up fairly. The lawyers take a big chunk, sometimes as much as 20 per cent. Management is distracted. And we end up with a more confrontational, less trusting, relationship between owners and managers.

Related Links

Bookmark and Share

Also in Columnists

Also in Business

Most Read

Skip Most Read

Today

MOST COMMENTED

Skip Editor's Pick

Today

MOST CURIOUS

Skip Most Curious

Today

Focus Zone

accenture

Need to Know:

Industry sectors news at a glance. Interactive heatmap, video and podcast

ba business travel clouds

Business Travel:

Everything the Business Traveller needs to know to make a better trip

Winter Sports

Winter Sports:

Get ready for the winter sports season, with our resort guides and snow reports

lloyds

Mapping Business:

We are backing British business, what is the confidence of the nation and what businesses are succeeding?

Shell

The Future of Energy:

Growing demand for energy, oil that is harder to reach and the rise of carbon dioxide emissions. We examine the energy challenge

high-speed trains

Europe by Train:

With rail travel in Europe on the rise, we review the benefits of travelling by train

Dinner party

My Dinner Party:

In this special section we explore new food trends to help improve your dinner party and impress guests

More Reports

More reports:

Enjoy further reading from Travel to Fashion, Business to Sport, discover more

previous next
Generic photo of a job interview.

Free CV Review

Sell yourself! Have your CV reviewed by experts

Times Health Club

Countdown to Christmas: a healthier festive season

The Singapore skyline pictured at night

Business city guides

Overseas contacts and local business information

A lawyer with gown and wig

Find a Lawyer

Cut your legal costs

Financial Brochures

Money symbol on computer key

Find an IFA

Find a local independent financial advisor

Classifieds 

Cars

Skip Cars of the Week

Ferrari F355 F1

1998
£47,955

Lamborghini Gallardo

2004
£56,950
Essex

Apply for car finance?

Check your free Experian credit report before applying


Jobs

Skip Jobs of the Week
Director of Operations – UK

£100,000
Barnardos
UK

Law Commissioner for England and Wales

£123,460 pa
The Law Commission
London

Job Opportunities Available


Hampshire County Council

Global Sponsorship Executive

Competitive + bonus + benefits
Manchester United
Central London

Properties

Eager to get on the property ladder?

Find out about shared ownership.

Looking for a Mortgage?

See your free Experian credit report beforehand

Holidays

Skip Travel of the Week

Hong Kong, Bangkok, Phuket & Dubai from only £1199!

Includes flights, accommodation with room upgrades, transfers city tours in Hong Kong and Bangkok.
PremierHolidays.co.uk

Ski Weekend Specialists since 1986

For your ultimate tailor-made ski holiday, click here


Great Travel Insurance

Get covered on your travels with a superb range of policies at great prices. Visit InsureandGo.com


Hawaii free nights, breakfasts, upgrades & more!

Choose from the beautiful landscape and tranquil beaches of Oahu, Kauai, Maui & Big Island.


Place your advert now