Merck Pays $10M To Exit ERISA Class Action Over Vytorin

Law360, New York (June 25, 2012, 6:19 PM EDT) -- A New Jersey federal judge on Friday preliminarily allowed Merck & Co. Inc. to pay $10.4 million to exit a class action filed by employees who say their retirement savings were hurt by the company's misrepresentations about the effectiveness of its cholesterol drug Vytorin.

U.S. District Judge Dennis M. Cavanaugh gave preliminary approval of the settlement, ending a four-year battle in the consolidated class action claiming the company violated the Employee Retirement Income Security Act by artificially inflating its stock when it hid the results of...
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