RADNOR, Pa., June 19 ADVERTISEMENT - The followingstatement was issued today by the law firm of Schiffrin Barroway Topaz &Kessler, LLP:
Schiffrin Barroway Topaz & Kessler, LLP is Co-Lead Counsel for the ERISAplaintiffs in the In re Merck & Co. Inc. Securities, Derivative, & ERISALitigation, MDL No. 1658, pending in the U.S. District Court for the Districtof New Jersey. The Court recently ruled that claims for violations of theEmployee Retirement Income Security Act of 1974 ("ERISA") relating to thefailure of Merck & Co. Inc. ("Merck" or the "Company") (NYSE: MRK) to disclosematerial facts relating to Vytorin cannot be pursued as part of the ERISAaction dealing with issues relating to Vioxx and should be pursued in aseparate case. To date, lawsuits have been filed that allege that theinvestments in the Merck Common Stock Fund within the Merck & Co., Inc.Employee Savings & Security Plan, the Merck & Co., Inc. Employee StockPurchase & Savings Plan, or the Merck Puerto Rico Employee Savings & SecurityPlan (collectively, the "Merck Plans") have declined substantially becauseMerck breached its fiduciary duties to participates of the Merck Plans when itfailed to disclose material facts regarding Vytorin.
If you wish to discuss this action or have any questions concerning thisnotice or your rights or interests with respect to these matters and are orwere a participant in the Merck & Co., Inc. Employee Savings & Security Plan,the Merck & Co., Inc. Employee Stock Purchase & Savings Plan, or the MerckPuerto Rico Employee Savings & Security Plan during the class period of April1, 2006 through March 31, 2008, and were invested in the Merck Common StockFund, please contact Schiffrin Barroway Topaz & Kessler, LLP (Edward Ciolko,Esq. or Tiffany Melvin) toll free at 1-888-299-7706 or 1-610-667-7706, or viae-mail at [email protected]
Specifically, the new suits allege that Merck breached its fiduciaryduties under ERISA by failing to disclose to participants of the Merck Plansthat the results of the ENHANCE trial showed no statistically significantdifference between patient use of Vytorin versus patients treated withSimvastatin. When the results of ENHANCE trial of Vytorin were made public onMarch 28, 2008 both the Merck Plans and the Merck Plans' participants andbeneficiaries suffered significant losses as Merck's stock price and the valueof the Merck Common Stock Fund in the Merck Plans drastically decreased.Additionally, the new suits allege that Merck breached its fiduciary duties toprudently and loyally invest and maintain the assets of the Merck Plans andprovide adequate information to the participants of those Merck Plans throughits actions and omissions, including but not limited to its conduct inrelation to Vytorin.
Schiffrin Barroway Topaz & Kessler, LLP is one of America's leading lawfirms handling ERISA retirement plan litigation. We are committed to helpingemployees and retirees protect their retirement savings.
If you are a member of the class, you may retain Schiffrin Barroway Topaz& Kessler, LLP, you may retain other counsel, do nothing, or take other stepsto protect your rights.
Before making your choice of attorney, you should give this matter carefulthought. The selection of an attorney is an important decision. For moreinformation about Schiffrin Barroway Topaz & Kessler please visitwww.sbtklaw.com.CONTACT: Schiffrin Barroway Topaz & Kessler, LLP Edward Ciolko, Esquire Tiffany Melvin 280 King of Prussia Road Radnor, PA 19087 1-888-299-7706 (toll free) or 1-610-667-7706 Or by e-mail at [email protected]
SOURCE Schiffrin Barroway Topaz & Kessler, LLP