Settlements
In re Merck & Co. Inc. Vytorin ERISA Litigation
American Capital Ltd.
YRC Worldwide, Inc. ERISA Litigation
Merck & Co., Inc. ERISA Litigation
Smurfit-Stone Container Corporation
Nuvelo Securities Litigation
Veritas Software Corp. Securities Litigation
General Growth Properties Securities Litigation
In re Merck & Co. Inc. Vytorin ERISA Litigation
This case is pending against Merck & Co., Inc. ("Merck") (NYSE: MRK) in the United States District Court for the District of New Jersey. The action is on behalf of participants in the Merck & Co., Inc. Employee Savings & Security Plan (the "Salaried Plan"), the Merck & Co., Inc. Employee Stock Purchase & Savings Plan (the "Hourly Plan"), the Merck Puerto Rico Employee Savings & Security Plan (the "Puerto Rico Plan") and the Merck-Medco Managed Care, LLC 401(k) Savings Plan (the "Medco Plan") (collectively the "Plans"), for violations of the Employee Retirement Income Security Act ("ERISA"). The claims of ERISA breach of fiduciary duty arise from improprieties relating to Vytorin, Merck’s prescription anti-cholesterol drug.
On November 20, 2008, Izard Nobel LLP was designated as co-lead counsel in In re Merck & Co. Inc. Vytorin ERISA Litigation, 08-cv-1974 in the District of New Jersey.
On February 5, 2009, Plaintiffs filed a consolidated amended complaint. On April 23, 2009, the Defendants filed a motion to dismiss the action. On August 31, 2009, the Court issued an order denying the motion to dismiss.
On June 22, 2012, the United States District Court for the District of New Jersey issued an Order preliminarily approving a settlement in the amount of $10,400,000 (ten million four hundred thousand dollars). A Fairness Hearing will be held at 10 a.m. on September 25, 2012, at the United States District Court for the District of New Jersey.
If you have not previously received the Notice of Class Action Settlement, you may click the link below to download this document. Please note that Adobe Acrobat Reader is required to download this document.
Additional information and documents with respect to this lawsuit and the Settlement are available at :http://merckvytorinerisasettlement.com/
Order Preliminarily Approving Settlement
Merck Vytorin ERISA Notice
American Capital Ltd.
On August 12, 2009, the law firm of Izard Nobel LLP was appointed as Co-Lead Counsel on behalf of a Class of persons who purchased or otherwise acquired the securities of American Capital Ltd. (NASDAQ: ACAS) (“American Capital” or the “Company”) between October 30, 2007 and November 7, 2008, inclusive (the “Class Period”). The action is pending in the United States District Court for the District of Maryland.
The Complaint charges that American Capital and certain of its officers and directors violated federal securities laws. Specifically, Defendants failed to disclose the following: (i) American Capital had far greater exposure to disruptions in the credit markets than disclosed; (ii) the Company planned to retain capital gains from its investments rather than distributing them to shareholders; (iii) American Capital would have to drastically alter its dividend policy; (iv) the Company lacked adequate internal and financial controls; and (v) that, as a result of the foregoing, the Company's statements about its financial well-being, future business prospects and dividend payments were lacking in any reasonable basis.
On November 6, 2009, the Plaintiffs filed an Amended Complaint with the Court. The Defendants filed a Motion to Dismiss on January 29, 2010. On April 8, 2010, Plaintiffs filed an Opposition to the Defendants' Motion to Dismiss. On May 7, 2010, Defendants filed their Reply in Further Support of the Motion to Dismiss. Plaintiffs filed a Motion for Leave to FIle a Sur-Reply in Opposition to Defendants' Motion to Dismiss on May 20, 2010. On June 15, 2010, the Court entered an order denying the Defendants' Motion to Dismiss.
On June 12, 2012, the Court entered an order granting final approval to the stipulated settlement in the amount of $18 million, certifying the settlement class, approving attorneys' fees and approving reimbursement of the Plaintiffs' expenses.
Notice of Settlement
Proof of Claim Form
Order Granting Final Approval of the Settlement
YRC Worldwide, Inc. ERISA Litigation
On March 6, 2012, the United States District Court for the District of Kansas granted Plaintiffs' motion for final approval of a class action settlement in the amount of $6,500,000 in the In re YRC Worldwide, Inc. ERISA Litigation, Case No. 2:09-cv-02593-JWL-JPO.
Included in the Class are: ALL PERSONS, EXCLUDING DEFENDANTS AND THEIR IMMEDIATE FAMILY MEMBERS, WHO WERE PARTICIPANTS IN OR BENEFICIARIES OF THE PLANS, AT ANY TIME BETWEEN OCTOBER 25, 2007 AND JUNE 8, 2011 AND WHOSE PLAN ACCOUNTS INCLUDED INVESTMENTS IN YRCW COMMON STOCK (DIRECTLY AND/OR THROUGH SHARES IN THE YRCW STOCK FUND).
If you have not previously received the Notice of Class Action Settlement, you may click below to download this document. Please note that Adobe Acrobat Reader is required to download this document.
YRC Worldwide ERISA Notice
Merck & Co., Inc. ERISA Litigation
On November 29, 2011, a final judgment hearing was held and the Honorable Stanley R. Chesler granted Plaintiffs' motion for final approval of a class action settlement in the amount of $49.5 million.
Included in the Class are: ALL CURRENT AND FORMER PARTICIPANTS AND BENEFICIARIES OF THE MSD EMPLOYEE SAVINGS & SECURITY PLAN (formerly known as the MERCK & CO., INC. EMPLOYEE SAVINGS & SECURITY PLAN), THE MSD EMPLOYEE STOCK PURCHASE & SAVINGS PLAN (formerly known as the MERCK & CO., INC. EMPLOYEE STOCK PURCHASE & SAVINGS PLAN), THE MSD PUERTO RICO EMPLOYEE SAVINGS & SECURITY PLAN (formerly known as the MERCK PUERTO RICO EMPLOYEE SAVINGS & SECURITY PLAN), AND THE PLAN FORMERLY KNOWN AS THE MERCK-MEDCO MANAGED CARE LLC 401(K) SAVINGS PLAN (THE “MEDCO PLAN”) (COLLECTIVELY, THE “PLANS”), FOR WHOSE INDIVIDUAL ACCOUNTS THE PLANS PURCHASED AND/OR HELD SHARES OF THE MERCK COMMON STOCK FUND BETWEEN OCTOBER 1, 1998, AND SEPTEMBER 30, 2004, INCLUSIVE (THE “SETTLEMENT CLASS”).
If you have not previously received the Notice of Class Action Settlement, you may click below to download this document. Please note that Adobe Acrobat Reader is required to download this document.
Merck Notice
Smurfit-Stone Container Corporation
On May 26, 2011, the Honorable Virginia Kendall granted Plaintiffs' motion for preliminary approval of a class action settlement in the amount of $7,750,000 in Mayer v. Administrative Committee of Smurfit-Stone Container Corporation, 09-cv-02984. On July 26, 2011, Plaintiffs filed a motion for Final Approval of the Settlement. A final judgment hearing was held on August 17, 2011 and the Court entered an Order granting Final Approval of the Class Settlement.
The Class includes all current and former participants and beneficiaries of the Smurfit-Stone Container Corporation Savings Plan, The Jefferson Smurfit Corporation Hourly Savings Plan, The Smurfit-Stone Container Corporation Hourly Savings Plan and The St. Laurent Paperboard Hourly Savings Plan for whose individual accounts the plans purchased and/or held shares of the Smurfit-Stone Container Corporation common stock fund (the “Smurfit Stock Fund”) at any time from October 29, 2003 through and including January 26, 2009.
If you have not previously received the Notice of Class Action Settlement, you may click below to download this document. Please note that Adobe Acrobat Reader is required to download this document.
Smurfit-Stone Notice
Nuvelo Securities Litigation
On June 20, 2011, the Court granted final approval to a settlement in the amount of $8.9 million in In re Nuvelo, Inc. Securities Litigation, 07-CV-4056, on behalf of a Class of persons who purchased the publicly traded securities of Nuvelo, Inc. ("Nuvelo") (NASDAQ: NUVO) between January 5, 2006 and December 8, 2006. Plaintiffs filed a motion for final approval of the settlement on May 6, 2011. The Court granted final approval of the settlement on June 20, 2011.
In order to participate in the distribution of the settlement, Class Members were required to have submitted a Proof of Claim Form to the Claims Administrator's Office, post-marked no later than July 22, 2011.
Nuvelo Notice of Settlement
Nuvelo Claim Form
Veritas Software Corp. Securities Litigation
The parties have reached a settlement in the amount of $21.5 million in the Veritas Software Corp. Securities Litigation, Civ. No. 04-831-SLR (D. Del.). The settlement is on behalf of a Class of persons who purchased or acquired Veritas' publicly traded securities, including persons who sold put options or bought call options, between April 23, 2003 and July 6, 2004.
On August 6, 2008, the Court granted final approval of the Settlement in this action. Distribution of the settlement fund was delayed pending an appeal by two putative class members of the Court's award of attorneys' fees. On Octobet 4, 2010, the Third Circut Court of Appeals entered an order rejecting the appeal of the District Court's award of attorneys' fees. A motion for distribution of the settlement fund was filed in January 2011. The Court has approved distribution of the settlement and the settlement fund is currently being distributed to class members.
Veritas Notice of Settlement and Proof of Claim
General Growth Properties Securities Litigation
The parties have reached a settlement in the amount of $15.5 million. The settlement is on behalf of a Class of purchasers of the common stock of General Growth Properties, Inc. (“General Growth”) during the period from April 30, 2008 through October 24, 2008.
On February 16, 2010, the parties filed a stipulation of settlement with the Court. On February 24, 2010, the Court issued an order granting preliminary approval of the settlement. On May 19, 2010, the Court held a hearing to determine whether the settlement should be granted final approval. On May 21, 2010, the Court enetred an Order granting final approval of the settlement and awarding attorneys' fees. On September 30, 2011, the Court entered an Order authorizing distribution of the Settlement Funds.
In order to participate in the distribution of the settlement, Class Members were required to send a Proof of Claim Form to the Claims Administrator's Office, post-marked no later than July 19, 2010, to the following address:
General Growth Securities Litigation
Claims Administrator
c/o FRG Information Systems Corp.
P.O. Box 460, Peck Slip Station
New York, NY 10272
General Growth Properties Notice of Settlement
General Growth Properties Proof of Claim
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