Merck To Pay $688M To Settle Investor Suits Over Vytorin

Law360, New York (February 14, 2013, 12:32 PM EST) -- Merck & Co. said Thursday it will pay $688 million to settle two class actions alleging the drugmaker and subsidiary Schering-Plough hid test results for their anti-cholesterol drug Vytorin from investors, inking what plaintiffs' attorneys called one of the top 25 securities class action settlements ever.

The pharmaceutical company will pay $473 million to settle a Schering-Plough class action and $215 million to settle a Merck class action instituted by investors in New Jersey federal court who said they lost money when the results of a...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.