NEW YORK, April 28, 2008 (PRIME NEWSWIRE) -- The law firm of Harwood Feffer LLP announces it has filed a Class Action Complaint against Merck & Co., Inc ("Merck") (NYSE:MRK) and certain of its officers, directors, and employees, in the United States District Court for the District of New Jersey. The action is on behalf of participants in the Merck's Employee Savings & Security Plans (collectively the "Plans"), for violations of the Employee Retirement Income Security Act ("ERISA").
The Complaint asserts ERISA breach of fiduciary duty claims against Defendants arising from improprieties relating to Vytorin, Merck's prescription anti-cholesterol drug. It is alleged, inter alia, that Defendants negligently failed to disclose material information about the effects of Vytorin necessary for participants to make informed decisions concerning their investments in Merck stock in the Plan. The Complaint alleges that while Merck was publicly touting Vytorin as a superior cholesterol treatment, it hid clinical study results negating such claims. When the truth was revealed, the Plans and Plan participants suffered massive losses as Merck's stock price and the price of the Fund decreased substantially.
Harwood Feffer has taken a leading role in many important actions on behalf of defrauded shareholders and has recovered hundreds of millions of dollars in those efforts. The Harwood Feffer website (www.hfesq.com) has more information about the firm . If you wish to discuss this action with us, view a copy of the Complaint, or have any questions concerning this notice or your rights and interests with regard to the case, please contact the following:
Jennifer K. Hirsh, Esq.
Samuel K. Rosen, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, NY 10022
Tel.: (877) 935-7400
E:mail: jhirsh@hfesq.com
srosen@hfesq.com
More information on this and other class actions can be found on the Class Action Newsline at www.primenewswire.com/ca/