Friday, February 25, 2011

Consumer Fraud Claims ALMOST Ready To Be Paid In 2008-09 Vytorin ENHANCE Study Non-Disclosure Debacle

Now, almost a year and a quarter after Schering-Plough winked out of existence -- in large measure due to the egregiously poor decision-making of Fred Hassan and Carrie Cox, et al., related to the ENHANCE study results -- people who took what may turn out to have been a very-expensive placebo are about to receive class payouts on the debacle.

There are still about seven additional class action style peices of litigation pending, on the matter -- but this was the first of them to settle. From the proposed final order in Judge Cavanaugh's courtroom:

. . . .Consumer claimants (including those who improperly filed using a TPP claim form) filed a total of 38,283 claims, for purchases totaling $52,193,376.27. After Rust’s claims administration and auditing process including discussions with Class Counsel, Rust proposes that 1,358 Consumer claims be found ineligible and the remaining 36,925 Consumer class members whose purchases total $46,046,928.70 be considered eligible. . . .

Stay tuned for final payout figures, but remember that Hassan, and his tops six executives collectively carted off around $500 million in severance payments, when Schering-Plough winked out of existence on November 3, 2009. Disgusting.

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