The United States Supreme Court Affirms Third Circuit Court of Appeals Decision in Reynolds et al v. Merck & Co. et al., Finding Merck Vioxx Securities Fraud Class Action Lawsuit Timely.
The Supreme Court of the United States issued an opinion (Justice Stephen Breyer) affirming the decision of the U.S. Court of Appeals for the Third Circuit which held that a class action securities lawsuit pending against Merck in the United States District Court for the District of New Jersey could continue, despite Merck’s argument that the class action suit was filed after the two-year statute of limitations had run and was barred, according to class action news reports.
The Merck Vioxx securities class action complaint reportedly alleges, among other things, that Merck and others knowingly misrepresented the risks of heart attacks accompanying the use of Merck’s pain-killing drug, Vioxx (leading to alleged economic losses when the risks later became apparent). The plaintiffs in the Merck Vioxx securities class action lawsuit brought an action for securities fraud under §10(b) of the Securities Exchange Act of 1934.
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