RADNOR, Pa., June 19 /PRNewswire/ -- ADVERTISEMENT - The following statement was issued today by the law firm of Schiffrin Barroway Topaz & Kessler, LLP:
Schiffrin Barroway Topaz & Kessler, LLP is Co-Lead Counsel for the ERISA plaintiffs in the In re Merck & Co. Inc. Securities, Derivative, & ERISA Litigation, MDL No. 1658, pending in the U.S. District Court for the District of New Jersey. The Court recently ruled that claims for violations of the Employee Retirement Income Security Act of 1974 ("ERISA") relating to the failure of Merck & Co. Inc. ("Merck" or the "Company") (NYSE: MRK) to disclose material facts relating to Vytorin cannot be pursued as part of the ERISA action dealing with issues relating to Vioxx and should be pursued in a separate case. To date, lawsuits have been filed that allege that the investments in the Merck Common Stock Fund within the Merck & Co., Inc. Employee Savings & Security Plan, the Merck & Co., Inc. Employee Stock Purchase & Savings Plan, or the Merck Puerto Rico Employee Savings & Security Plan (collectively, the "Merck Plans") have declined substantially because Merck breached its fiduciary duties to participates of the Merck Plans when it failed to disclose material facts regarding Vytorin.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters and are or were a participant in the Merck & Co., Inc. Employee Savings & Security Plan, the Merck & Co., Inc. Employee Stock Purchase & Savings Plan, or the Merck Puerto Rico Employee Savings & Security Plan during the class period of April 1, 2006 through March 31, 2008, and were invested in the Merck Common Stock Fund, please contact Schiffrin Barroway Topaz & Kessler, LLP (Edward Ciolko, Esq. or Tiffany Melvin) toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at email@example.com.
Specifically, the new suits allege that Merck breached its fiduciary duties under ERISA by failing to disclose to participants of the Merck Plans that the results of the ENHANCE trial showed no statistically significant difference between patient use of Vytorin versus patients treated with Simvastatin. When the results of ENHANCE trial of Vytorin were made public on March 28, 2008 both the Merck Plans and the Merck Plans' participants and beneficiaries suffered significant losses as Merck's stock price and the value of the Merck Common Stock Fund in the Merck Plans drastically decreased. Additionally, the new suits allege that Merck breached its fiduciary duties to prudently and loyally invest and maintain the assets of the Merck Plans and provide adequate information to the participants of those Merck Plans through its actions and omissions, including but not limited to its conduct in relation to Vytorin.
Schiffrin Barroway Topaz & Kessler, LLP is one of America's leading law firms handling ERISA retirement plan litigation. We are committed to helping employees and retirees protect their retirement savings.
If you are a member of the class, you may retain Schiffrin Barroway Topaz & Kessler, LLP, you may retain other counsel, do nothing, or take other steps to protect your rights.
Before making your choice of attorney, you should give this matter
careful thought. The selection of an attorney is an important decision. For
more information about Schiffrin Barroway Topaz & Kessler please visit
CONTACT: Schiffrin Barroway Topaz & Kessler, LLP
Edward Ciolko, Esquire
280 King of Prussia Road
Radnor, PA 19087
1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at firstname.lastname@example.org
|SOURCE Schiffrin Barroway Topaz & Kessler, LLP|
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