We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Circuit Court Tosses $42.5M Medco Settlement

Law360 (October 9, 2007, 12:00 AM EDT) -- A federal appeals court has tossed the $42.5 million settlement between employee welfare benefit plans and Merck-Medco Managed Care LLC, as well as decertified the class, which accused the pharmaceutical benefits manager of breaching its fiduciary duty under the Earned Retirement Income Security Act.

A three-judge panel of the U.S. Court of Appeals for the Second Circuit on Oct. 4 vacated a district court order certifying the class.

Additionally, the circuit court overturned the settlement agreement due to concerns over its allocation of the proceeds....
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.