Merck Pays $830M To End Investor Suit Over Vioxx Marketing
Law360, New York (January 15, 2016, 11:13 AM EST) -- Merck announced Friday that it will pay $830 million to settle investors' claims in multidistrict litigation accusing the company of committing securities fraud violations by illegally marketing the painkiller Vioxx, after the drugmaker previously agreed to pay a criminal penalty of nearly $1 billion in 2011.
In a statement, Merck & Co. Inc. denied any wrongdoing, and noted that it still faces individual lawsuits stemming from the same alleged misconduct — namely, that it marketed the anti-inflammatory drug for off-label uses and downplayed its risk of causing heart attacks.
"After available funds under certain insurance policies, Merck's cash payment...
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