PHILADELPHIA, Oct. 4, 2004 (PRIMEZONE) -- Law Offices Bernard M. Gross, P.C. (http://www.bernardmgross.com) announces that a class action lawsuit, numbered 04cv4657, was commenced today in the United States District Court for the Eastern District of Pennsylvania, against defendants Merck & Co., Inc., Raymond V. Gilmartin, Chairman of the Board of Directors, President and Chief Executive Officer, and Peter S. Kim, President of Merck Research Laboratories, on behalf of all persons who purchased Merck common stock (NYSE:MRK), between November 5, 2003 and September 29, 2004 seeking remedies under the Securities Exchange Act of 1934 (the "Exchange Act"). The case has been assigned to Judge Harvey Bartle, III. Merck and defendant Kim maintain offices in West Point, Pennsylvania.
The Merck Complaint alleges that defendants failed to disclose material information during the Class Period concerning the safety profile of its arthritis drug Vioxx, and that a growing body of evidence demonstrated that patients who used the drug for more than 18 months were exposed to an increased risk of heart attack. Specifically, on September 30, 2004, the Company announced that it was immediately withdrawing Vioxx from world markets after a data safety monitoring board, overseeing a long-term study of the drug, recommended that the study be halted because of an increased risk of serious cardiovascular events among members of the study group. The Company's sudden decision to withdraw Vioxx was in stark contrast to its prior public announcements during the Class Period touting the safety of Vioxx and other public disclosures by the Company and its representatives that specifically refuted criticism of the drug lodged by respected clinicians.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Deborah R. Gross or Susan R. Gross of Law Offices Bernard M. Gross at 866-561-3600(toll-free) or via e-mail at susang@bernardmgross.com. If you are a member of this class, you can view a copy of the complaint as filed at http://www.bernardmgross.com. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
If you purchased or otherwise acquired the securities of Merck & Co.,Inc. between May 5,2003 and September 29, 2004, and sustained damages, you may, no later than November 30, 2004, file a motion to be appointed lead plaintiff, if you so choose. Law Offices Bernard M. Gross, P.C. has significant experience and expertise in prosecuting class actions.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.