Judge Tosses Shareholder Suit Over Vioxx

Law360, New York (May 16, 2006, 12:00 AM EDT) -- A federal court has dismissed a consolidated shareholder lawsuit that accused officers and directors of pharmaceutical firm Merck & Co. Inc. of breaching their duties by covering up health risks of the recalled painkiller Vioxx.

In the ruling, Judge Stanley R. Chesler, of the U.S. District Court for the District of New Jersey, concluded that the shareholders failed to make a demand for action by the board prior to filing the suit.

The plaintiffs conceded that they did not meet the requirement, while Judge Chesler prohibited...
To view the full article, register now.