Lawsuit Overview
Settlement Overview
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April 17 , 2014 - The U.S. Court of Appeals for the Third Circuit dismissed the October 30, 2013 appeal for failure to pay the appeal bond and directed the appellant of the October 25, 2013 appeal, to pay the appeal bond by April 28, 2014.
October 30, 2013 - Additional class members filed a notice of appeal of the orders approving the settlement, approving the plan of allocation, and approving the motion for attorneys’ fees and expenses.
October 25, 2013 - A class member filed a notice of appeal of the order awarding attorneys' fees.
October 1, 2013 - The court approved the settlement, entered the orders approving the plan of allocation, the motion for attorneys’ fees and expenses, and dismissed the action with prejudice.
June 7, 2013 - The court preliminarily approved the settlement.
June 4, 2013 - Parties filed a stipulation of settlement.
November 29, 2012 - The court dismissed a defendant and Count III of the second amended complaint.
February 9, 2012 - The lead plaintiffs filed a second amended consolidated complaint.
November 29, 2010 - A lead plaintiff was withdrawn as a plaintiff.
September 2, 2009 - The court denied the defendants’ motion to dismiss.
December 12, 2008 - The defendants filed a motion to dismiss.
October 22, 2008 - Additional cases were consolidated.
October 6, 2008 - The lead plaintiffs filed an amended consolidated complaint on behalf of purchasers of Merck & Co Inc (NYSE: MRK) between May 1, 2006 to March 28, 2008. The lead plaintiff alleges that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between May 1, 2006 to March 28, 2008.
July 3, 2008 - The lead plaintiffs and lead counsel were appointed and all cases were consolidated.
June 3, 2008 - Lead plaintiff motions were filed.
May 9, 2008 - Another investor filed a complaint.
May 8, 2008 - The original plaintiff filed a notice of voluntary dismissal and the complaint was withdrawn without prejudice.
May 7, 2008 - Another investor filed a complaint.
May 5, 2008 - Another investor filed a complaint.
April 3, 2008 - An investor in shares of Merck & Co Inc (NYSE: MRK) filed a lawsuit in the U.S. District Court for the Eastern District of Pennsylvania against Merck & Co Inc over alleged violations of Federal Securities Laws between October 22, 2007 and March 28, 2008.
The complaint alleges that defendants deceived the investing public regarding the results of the ENHANCE trial because the results were not positive or beneficial to Merck & Co Inc and to the contrary would be detrimental. The trial results when fully explained and disclosed on March 28, 2008 showed that there was no statistically significant difference between patient use of VYTORIN versus patients treated with SIMVASTATIN. Based on trial results, defendants were aware that the medical community would turn to an alternative, less expensive statins, thus seriously impacting the Merck & Co Inc's earning. Moreover, Merck & Co Inc's earnings were dependent on increasing sales of VYTORIN as its patent and exclusivity on ZOCOR had expired and Merck & Co Inc's performance would and could be negatively impacted by competition from cholesterol management products on the market. These disclosures caused Merck & Co Inc's (NYSE: MRK) stock price to fall from $44.51 on March 28, 2008 to close on March 31, 2008 at $37.95.