Grant & Eisenhofer served as co-lead counsel in recovering $215 million for investors in Merck Vytorin/Zetia securities fraud litigation
Plaintiff(s):
Foreign public pension fund and other institutional investors
Case type / claims:
Securities class action alleging that Merck & Co. misled investors about the efficacy of its cholesterol drug Vytorin (a combination of Zetia and Simvastatin/Zocor), concealing the results of the 2006 ENHANCE clinical trial which showed the drug offered no measurable advantage over Simvastatin alone, causing billions in investor losses when the truth emerged.
Defendant(s):
Merck & Co., Inc. and related officers and directors
Jurisdiction:
U.S. District Court for the District of New Jersey
Year:
2013
Outcome:
- Settled for $215 million shortly before trial, providing substantial recovery for investors and marking one of the largest pharmaceutical-related securities settlements of its time.
