Merck Settles Suits Over Cholesterol Drug
New York Times
February 14, 2013
Christopher J. McDonald comments on the Firm's settlement in case against Schering-Plough Corporation
Under Thursday's agreement, Merck will pay $215 million to resolve a class-action suit involving Merck defendants and $473 million to resolve a suit against Schering. Lawyers for plaintiffs in the suit against Schering said the settlement was the largest ever in a securities class action against a drug company.
"The settlement is even more gratifying because it underscores the value of private civil litigation to protect shareholder rights," Christopher McDonald, one of the lead lawyers representing investors, said in a statement.