Vioxx Securities Class Action Lawsuit
Merck agreed to pay $830 million to settle a lawsuit filed by shareholders who purchased Merck securities from May 1999 to October 2004. The lawsuit sought damages allegedly caused by Merck statements regarding the cardiovascular safety of the Vioxx pain medication, which the company pulled from the market in 2004. The lawsuit alleged Merck concealed from investors negative clinical trial data. The settlement did not constitute any admission by Merck of any liability or wrongdoing. In February 2016, a judge gave preliminary approval to the settlement, which included an additional $232 million in attorneys’ fees and expenses.
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- Date of Settlement Announcement
|Merck & Co., Inc.||$1,062,000,000|