Park East, Inc.
The U.S. Supreme Court has held that the statute of limitations set forth in 28 U.S.C. section 1658(b)(1) begins to run once the reasonable investor/plaintiff discovers the facts constituting the elements of the violation, including scienter. In Merck & Co. v. Reynolds, ___ U.S. ____, 130 S.Ct. 1784 (2010), the…
In In re Merck & Co., Inc. Securities, Derivative & “ERISA” Litig., ___ F.3d ___, 2008 WL 4138476 (3rd Cir. 2008), a federal circuit court revived a securities fraud class action suit against Merck that accuses the pharmaceutical company of hiding the truth about Vioxx and its link to cardiac…
New Judicial Opinions
Appellants, purchasers of Merck stock, filed the first of several class action securities fraud complaints on November 6, 2003, alleging that the company and certain of its officers and directors (collectively, “Merck”) misrepresented the safety profile and commercial viability of Vioxx, a pain reliever that was withdrawn from the market…
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