Kia Franklin

US Court Revives Vioxx Shareholder Lawsuits

As discussed in this article. Excerpt:

(AP) - PHILADELPHIA-A federal appeals court revived a group of shareholder lawsuits that accused Merck & Co. officers and directors of violating their duties by concealing the health risks of the company’s Vioxx painkiller.

The three-judge panel of the 3rd Circuit Court of Appeals ruled Wednesday that the lawsuits should be sent back to the New Jersey federal judge who dismissed them in May 2006…

…Plaintiffs’ attorney Darren Robbins praised the ruling.

“Today’s decision is a tremendous victory for Merck shareholders who were victimized by company insiders in connection with the Vioxx debacle,” Robbins said. “We look forward to returning to the District Court to prosecute the cover-up of one of the most egregious drug scandals in recent memory.” Read full article

Posted at 4:04 PM, Jul 19, 2007 in Permalink | Comments (0) | TrackBack (0)