Federal court dismisses Vioxx securites call action
Merck & Co says that a federal judge in New Jersey, USA, has dismissed with prejudice a consolidated securities class action filed by investors against the company in connection with disclosures regarding its withdrawn COX-2 inhibitor Vioxx (rofecoxib).
In his April 12 ruling, Judge Stanley Chesler of the US District Court in Newark found that the securities action should be dismissed because all of the plaintiffs' claims were time-barred under the applicable statute of limitations.
News of the court decision saw Merck's stock surge in early trading on April 13, rising 7% to $49.45.
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