NEW YORK, April 28, 2008 (Lawfuel) — The law firm of Harwood
Feffer LLP announces it has filed a Class Action Complaint against
Merck & Co., Inc (“Merck”) (NYSE:MRK) and certain of its officers,
directors, and employees, in the United States District Court for the
District of New Jersey. The action is on behalf of participants in the
Merck’s Employee Savings & Security Plans (collectively the “Plans”),
for violations of the Employee Retirement Income Security Act
(“ERISA”).
The Complaint asserts ERISA breach of fiduciary duty claims against
Defendants arising from improprieties relating to Vytorin, Merck’s
prescription anti-cholesterol drug. It is alleged, inter alia, that
Defendants negligently failed to disclose material information about
the effects of Vytorin necessary for participants to make informed
decisions concerning their investments in Merck stock in the Plan. The
Complaint alleges that while Merck was publicly touting Vytorin as a
superior cholesterol treatment, it hid clinical study results negating
such claims. When the truth was revealed, the Plans and Plan
participants suffered massive losses as Merck’s stock price and the
price of the Fund decreased substantially.
