Investment Firms Sue Merck Over Misleading Vioxx Claims

Law360, Washington (January 27, 2015, 7:18 PM EST) -- Kuwait’s sovereign investment fund and a pair of investment management firms sued Merck & Co. Inc. in New Jersey federal court Friday, accusing the company of misleading investors over now-withdrawn arthritis treatment Vioxx, after the plaintiffs previously dropped out of a related multidistrict litigation.

The Kuwait Investment Authority, Aegon Investment Management BV and Transamerica Funds claim Merck and its top brass intentionally covered up Vioxx's “statistically significant” chance of causing serious cardiovascular effects in filings made with the U.S. Securities and Exchange Commission and in statements made to...
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