Merck & Co. reaches $1 billion settlement, in top 15 securities class actions of all time

FRT Admin
Site administrator
March 7, 2016

merck litigationA securities class action lawsuit against Merck & Co. settled for a total of $1 billion, with $830 million to be paid out to investors and the rest to attorney fees. The Merck settlement falls into the top 15 largest settlements, all  of which are over $1 billion. This settlement involves Merck’s painkiller drug Vioxx. Vioxx was taken off the market in September of 2004 which resulted in a 27% stock drop one day after the announcement. With this case being over a decade old, it has had its unique challenges for the four law firms who have co-led the case.

The plaintiffs proved that Merck did not disclose information about the cardiovascular side effects of Vioxx. This case became challenging as the plaintiffs had to prove that the company falsely claimed that a study showed Vioxx causing more heart attacks than a painkiller called Naproxen because the drug had a cardiovascular benefit. The plaintiffs then had to bring complex scientific arguments forward backed with statistical evidence that would under lie them to back the case. As a result of this decade long securities suit, a $1 billion settlement was agreed upon and makes a statement that large securities suit settlements have not gone away.

To read more about the Merck & Co. securities class action click here.

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Founded in 2008, Financial Recovery Technologies (FRT) is a leading technology-based services firm that helps the investment community identify eligibility, file claims and collect funds made available in securities and other class action settlements. Offering the most comprehensive range of claim filing and monitoring services available, we provide best-in-class eligibility analysis, disbursement auditing and client reporting, and deliver the highest level of accuracy, accountability and transparency available. For more information, go to www.frtservices.com.

 

This communication and the content found by following any link herein are being provided to you by Financial Recovery Technologies (FRT) for informational purposes only and does not constitute advice. All material presented herein is believed to be reliable but FRT makes no representation or warranty with respect to this communication or such content and expressly disclaims any implied warranty under law. Opinions expressed in this communication may change without prior notice. Firms should always seek legal and financial advice specific to their unique situation and objectives.