Judge Trims Securities MDL Claims Against Merck Execs

Law360, New York (August 30, 2012, 7:04 PM EDT) -- A New Jersey federal judge on Wednesday trimmed securities fraud claims in multidistrict litigation against Merck & Co. Inc. and its executives after employee pension plans claimed they had misrepresented the company's financial health by hiding the heart risks of its recalled arthritis medication Vioxx.

U.S. District Judge Stanley R. Chester said accurate statements about past earnings would not make defendants liable under SEC rules that bar misleading statements and omissions, and noted that those statements by Merck executives had largely excluded references to Vioxx’s safety....
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