HARTFORD, Conn., April 17, 2008 (Lawfuel) — The law firm of
Schatz Nobel Izard P.C., Chair of the Lead Counsel Committee in the
Merck & Co, Inc. “ERISA” Litigation, announces that Plaintiffs have
filed a Proposed Supplemental Class Action Complaint against Merck &
Co., Inc. (“Merck”) (NYSE:MRK) in the United States District Court for
the District of New Jersey. The action is on behalf of participants in
the Merck & Co., Inc. Employee Savings & Security Plan (the “Salaried
Plan”), the Merck & Co., Inc. Employee Stock Purchase & Savings Plan
(the “Hourly Plan”), the Merck Puerto Rico Employee Savings & Security
Plan (the “Puerto Rico Plan”) and the Merck-Medco Managed Care, LLC
401(k) Savings Plan (the “Medco Plan”) (collectively the “Plans”), for
violations of the Employee Retirement Income Security Act (“ERISA”).
The Proposed Supplemental Complaint has been amended to include
additional 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 the Merck Common Stock Fund (the
“Fund”). The Proposed Complaint alleges that while Merck was publicly
touting Vytorin as a superior cholesterol treatment, it actively hid
clinical study results negating such claims. Merck knew or should have
known that Vytorin, a combination of the anti-cholesterol drugs
simvastatin and Zetia, was no more effective than simvastatin alone,
which is available in a substantially cheaper generic form. 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.
To view a copy of the Proposed Supplemental Complaint or for more
information about this case, class action cases in general, and your
rights, please contact Schatz Nobel Izard P.C. toll-free at (800)
797-5499, or by e-mail at firm@snilaw.com, or visit our website:
www.snilaw.com.
CONTACT: Schatz Nobel Izard P.C.
Wayne T. Boulton or Nancy A. Kulesa
(800) 797-5499
firm@snilaw.com
www.snilaw.com
