TITLE

Advertising Risk

AUTHOR(S)
Apfel, Gary; Thompson, Bryan M.
PUB. DATE
March 1999
SOURCE
Marketing Management;Spring99, Vol. 8 Issue 1, p58
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article focuses on two cases in which the court ruled that manufacturers can be subjected to liability for false product advertisement. A federal law known as the Securities Exchange Act of 1934 governs virtually all aspects of the public trading of securities. This law regulates the securities markets, stock exchanges, stockbrokers, and issuers of securities. Section 10(b) and Rule l0b-5 have a broad reach and can affect a wide range of behavior, as is illustrated by a case that arose a number of years ago involving Texas Gulf Sulphur Co. Texas Gulf Sulphur, a mining company, had begun exploratory activities in eastern Canada. It drilled a test hole in the area that revealed a potentially large amount of zinc and copper. The Second Circuit case arose in July 1993, when Felbatol, a new anti-epileptic drug produced by Carter-Wallace Inc., was approved by the Food and Drug Administration for sale as a prescription medication. The following month, Carter-Wallace began selling Felbatol, hailing it as the first major anti-epileptic drug to be introduced in the United States in over 15 years.
ACCESSION #
1755097

 

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