More Cool Stuff A variety of the finest teas served with a selection of savory tea sandwiches, scones with Devonshire cream, fruits, tarts, mousse torts and crÃ¨me brÃ¼lÃ©es â€“ all containing different chocolate essences. A grand pink chocolate fountain is the focal point of the tea, with surrounding chocolate sculptural art. 10% of proceeds will be donated to the The Contance G. Zahorik Appearance Center at Huntington Hospital.The Motherâ€™s Day Pink Chocolate Afternoon Tea is available on Sunday, May 12 from 12:00 p.m. â€“ 3:00 p.m. The cost is $59 per person and $29.50 for children 4-12, not inclusive of tax and gratuity. For reservations, please dial (626) 585-6218 or visit pasadena.langhamhotels.com.The Langham Huntington, Pasadena, 1401 South Oak Knoll Avenue, Pasadena, (626) 568-3900 or visit pasadena.langhamhotels.com.About the Constance G. Zahorik Appearance CenterNamed for Constance G. Zahorik, a breast cancer survivor and philanthropist who believed in a compassionate and comprehensive approach to breast cancer treatment, the Appearance Center has a licensed cosmetologist to help breast cancer patients look and feel their best. Located in the Huntington Hospital Cancer Center at the Huntington Pavilion, our cosmetologist at the Appearance Center will help patients manage the side-effects of cancer treatment, including the use of make-up and wigs. Referrals for breast prostheses and bra fittings are also provided at the Appearance Center â€“ where our team of professionals are at your service. Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday Community News Your email address will not be published. Required fields are marked * faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Virtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes Subscribe Herbeauty8 Yoga Poses To Overcome Stress And AnxietyHerbeautyHerbeautyHerbeauty12 Most Breathtaking Trends In Fashion HistoryHerbeautyHerbeautyHerbeauty9 Of The Best Family Friendly Dog BreedsHerbeautyHerbeautyHerbeautyThe Real Truth About The Pain Caused By MicrobladingHerbeautyHerbeautyHerbeauty8 Easy Exotic Meals Anyone Can MakeHerbeautyHerbeautyHerbeautyShort On Time? 10-Minute Workouts Are Just What You NeedHerbeautyHerbeauty Make a comment Top of the News Name (required) Mail (required) (not be published) Website First Heatwave Expected Next Week Business News 12 recommended0 commentsShareShareTweetSharePin it Community News Cover Story Motherâ€™s Day Pink Chocolate Afternoon Tea at The Langham Huntington Pasadena â€“ May 12 From STAFF REPORTS Published on Monday, April 15, 2013 | 5:43 pm EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadena
Philips Pensioenfonds, the €17.8bn pension scheme of the Dutch electronics giant, will share in a total payout of $400m (€365m) to be made by Pfizer, after the US pharmaceutical company settled a securities fraud class action by investors who claimed it made false statements to them.After nearly five years of litigation, both sides reached a tentative agreement last January to settle the case for $400m plus accrued interest.The deal was finally approved by the district court for the Southern District of New York last week.Claims from class members are still being processed, so the precise amounts to be allocated to investors are not yet known. But Philips Pensioenfonds, as lead plaintiff in the lawsuit, is likely to be one of the biggest beneficiaries.In a class action in the US, the lead plaintiff is appointed by the court, which generally chooses the party that has suffered the greatest economic loss. And, according to Robbins Geller Rudman & Dowd (RGRD), lead counsel for the class of Pfizer investors, not all class members are likely to claim, resulting in higher per-share distributions.In the lawsuit, investors alleged that Pfizer had illegally promoted Bextra, an anti-inflammatory drug, and several other drugs ‘off label’ to boost sales.Off-label marketing is the promotion of pharmaceutical products for uses unapproved by the US Food and Drug Administration.Pfizer and its officers were alleged to have concealed from investors that the company was earning substantial revenue from this illegal promotion, and was subject to an extensive government investigation.Materially false and misleading statements were claimed to have been made to investors between January 2006 and January 2009 (the ‘class period’).Furthermore, investors claimed that false financial results and reports were filed with the US Securities and Exchange Commission that did not sufficiently account for, or disclose, probable loss contingencies resulting from Pfizer’s off-label marketing, as required by Generally Accepted Accounting Principles.Three days after the end of the class period, Pfizer announced it had agreed to pay $2.3bn to settle allegations by the US Department of Justice that it had engaged in off-label marketing.That day, Pfizer’s share price dropped from $17.45 to $15.65.Mike Dowd, partner at RGRD, said: “We are very pleased the court approved the settlement providing a $400m recovery for Pfizer investors. “In granting the approval, the court found that the settlement and the plan of allocation – i.e. the formula for how the recovery will be shared among the class of Pfizer investors – was fair and reasonable.” The precise allocation to class members will be determined over the next few months.