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Merck & Co., Inc. (MRK) Sued By Wechsler Harwood LLP


10/19/2005 5:12:26 PM

NEW YORK, Dec. 10, 2004 (PRIMEZONE) -- Wechsler Harwood LLP ("Wechsler Harwood") announces that it has sued Merck & Co., Inc. ("Merck" or the "Company") (NYSE:MRK) and certain of its officers and directors, in the United States District Court for the Eastern District of Louisiana. The shareholder lawsuit, filed under Sections 11 and 15 of the Securities Act of 1933, is on behalf of all persons and entities who acquired the common stock of Merck between April 26, 2002 and September 30, 2004 (the "Class Period") through Merck's Stock Investment Plan (the "MSIP"). Such stock was issued under the MSIP registration statement (the "Registration Statement") dated April 26, 2002, and prospectuses (the "Prospectuses") dated April 26, 2002, May 1, 2002, and June 10, 2004. The complaint (the "Complaint") alleges that Merck together with its officers and directors, violated the federal securities laws by issuing a series of materially false and misleading statements to the market that were incorporated into the Registration Statement and Prospectuses, in connection with the safety of its drug Vioxx, or failed to make statements necessary to make those previously made statements not materially false and misleading. These misstatements had the effect of materially overstating Merck's actual and projected revenues and earnings and rendering the Registration Statement and Prospectuses materially false and misleading, resulting in damages to MSIP investors.

Read at Prime Zone

   

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