Merck Settles ERISA Suit Over Vioxx Claims For $50M

Law360, New York (November 9, 2011, 6:12 PM EST) -- Merck & Co. Inc. on Tuesday said it had agreed to a $49.5 million settlement in a class action alleging its employees' savings plans took a hit from the company’s misrepresentations about the health risks associated with its former prescription painkiller Vioxx.

In a U.S. Securities and Exchange Commission filing, Merck said that it entered into the agreement with the plaintiffs on Aug. 16 in the consolidated Employee Retirement Income Security Act class action in New Jersey federal court.

"We're pleased to have reached a proposed...
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