September 13, 2019 / 12:07 PM / 10 days ago

3rd Circuit revives investors’ claims against Merck over Vytorin/Zetia nondisclosures

Merck & Co must face state-law fraud claims by 16 institutional investors who opted out of class actions alleging the company withheld adverse information about a clinical trial of anti-cholesterol drugs Vytorin and Zetia, a federal appeals court held on Thursday.

A divided panel of the 3rd U.S. Circuit Court of Appeals overturned the 2018 dismissal of individual lawsuits filed by United Food Commercial Workers’ local pension funds, international investment firms North Sound Capital, Colonial First State Investments and GIC Private Limited and others after the class actions settled for $688 million in 2013.

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