Summary
Merck & Co., Inc. (MRK) filed an 8-K on January 13, 2012, reporting a significant development regarding a shareholder derivative lawsuit. On January 10, 2012, the United States District Court for the District of New Jersey granted preliminary approval for a proposed settlement in the case of Plymouth County Contributory Retirement System v. Hassan. This action stems from a prior shareholder derivative suit (formerly Cain v. Hassan). Investors should note that a final approval hearing for this settlement is scheduled for February 28, 2012. Any objections to the settlement must be formally filed with the court by February 8, 2012. The full details of the proposed settlement, hearing, and objection procedures are available in the 'Notice of Proposed Settlement of Derivative Action, Final Settlement Hearing, and Related Matters,' which is attached as an exhibit to this filing and also accessible on Merck's investor relations website.
Key Highlights
- 1Merck has reached a preliminary settlement in a shareholder derivative lawsuit.
- 2The United States District Court for the District of New Jersey granted preliminary approval on January 10, 2012.
- 3A final settlement approval hearing is scheduled for February 28, 2012.
- 4Shareholders wishing to object to the settlement must file their objections by February 8, 2012.
- 5Detailed information regarding the settlement is available in the attached 'Notice of Proposed Settlement of Derivative Action, Final Settlement Hearing, and Related Matters' (Exhibit 99.1).
- 6The full notice is also available on Merck's investor relations website.