Appeals Court Reinstates Vioxx Securities Class Action Against Merck
A federal appeals court concluded that shareholders did not wait too long to bring a securities class action against Merck alleging the company defrauded investors by failing to disclose safety problems with its pain reliever Vioxx
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Case could determine how much evidence is necessary for investors to bring a securities fraud suit to start the clock running on the statute of limitations.
Supreme Court is to decide when Merck investors had sufficient information to sue for securities fraud; FDA warning letter about Vioxx risks is at issue.
Those poring over Judge Sonia Sotomayor's rulings can get a sense of her views on civil rights, environmental law, privacy and the Second Amendment right to bear arms. But there seems to be no indication of how President Obama's nominee to the Supreme Court might rule on issues affecting the pharmaceutical industry