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In re Merck & Co., Inc. Securities Litigation
(United States District Court for the District of New Jersey)
Securities fraud class action filed on behalf of a class of persons and entities
who purchased or acquired the securities of Merck & Co., Inc. between May 21, 1999 and October 29, 2004 (the “Class Period”).
BLB&G is Co-Lead Counsel and represents Co-Lead Plaintiff The Public Employees’ Retirement
System of Mississippi in this class action arising out of Defendants’ misstatements and failures to disclose that the
commercial viability of Merck’s prescription painkilling drug VIOXX was in jeopardy. Defendants concealed from the market
that VIOXX was not the blockbuster drug that the market expected and continued to project sales of VIOXX in the billions
of dollars despite internal communications reflecting grave concern over the viability of the drug. As the truth became
known, the trading price of Merck common stock plummeted. In fact, between the worldwide withdrawal of VIOXX on September
30, 2004, and the public confirmation of Defendants’ awareness and cover-up of the serious, life-threatening risks posed
by VIOXX on November 1, 2004, Merck’s market capitalization fell by tens of billions of dollars. Plaintiffs allege
violations of the Securities Act of 1933 and the Securities Exchange Act of 1934.
By opinion dated April 12, 2007, the United States District Court for the District of New
Jersey dismissed the action as barred by the statute of limitations. Plaintiffs have appealed this ruling to the United
States Court of Appeals for the Third Circuit.
Firm partner
Sean Coffey
and associate Adam Wierzbowski are responsible
for prosecuting this action.
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