Merck & Co. on February 14 announced that it will pay $688 million to settle two securities fraud class actions. The suits, filed in 2008 in the District of New Jersey on behalf of four pension funds that invested in Merck and the former Schering-Plough Corp., accused the company of concealing poor results from a clinical trial relating to its anti-cholesterol drug Vytorin.
TRANSOCEAN PLEA OK’D
A federal judge has approved a Transocean Ltd. subsidiary’s criminal plea as part of a $1.4 billion settlement with the U.S. Justice Department over liability for the 2010 Deepwater Horizon oil spill. Transocean will pay $400 million in criminal penalties to the U.S. government an amount second in size only to BP PLC’s $4 billion plea agreement.
TOYOTA TO PAY $29M
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