February 1, 2016
Big Pharma pays a record price for allegedly misleading the public about the risks of one of its blockbuster drugs — $1.062 billion recovery. Shares of pharmaceutical giant Merck & Co., Inc. suffer massive drop in response to revelations surrounding the Company’s concealment of health risks associated with its blockbuster painkiller VIOXX. Investors sue but the court dismisses the case on statute of limitations grounds. BLB&G’s efforts for Merck shareholders are instrumental in securing a rare, unanimous Supreme Court decision clarifying the standard governing statute of limitations in securities fraud suits. The decision is a significant victory — not only for Merck investors but for all investors as it makes it more difficult for corporate wrongdoers to evade liability by concealing their fraud. One of the largest securities recoveries of all time after more than 12 years of extraordinarily hard-fought litigation.