Merck Vioxx Stock Fraud Attorneys

Our Merck Vioxx stock fraud attorneys are filing lawsuits on behalf of investors who suffered financial losses because of the 2004 Vioxx recall. Thousands of Merck shareholders paid inflated prices for the company's stock because of misrepresentations Merck made about Vioxx in the years prior to the recall. The Merck Vioxx stock fraud attorneys at our firm are working hard to make sure these deceived investors are fairly compensated for their losses.

A landmark U.S. Supreme Court ruling in a Merck stock fraud lawsuit that is expected in June 2010 could extend the deadline for filing stock fraud lawsuits against the company over the Vioxx debacle. If you invested your hard earned money in Merck and suffered financially because of the Vioxx recall, you may be able to recover your losses by filing an individual Merck stock fraud lawsuit. Call our Merck stock fraud attorneys today at 1-800-529-4636 for a free evaluation of your case.

The Merck Vioxx Recall

Vioxx became a blockbuster for Merck not long after it came on the market in 1999, racking up annual sales of $2.5 billion. In a move that shocked both patients and investors, Merck withdrew Vioxx in 2004 after a clinical trial showed an increased risk of heart attacks and strokes. Merck shares plunged 27 percent on the day of the withdrawal and fell further in the following months. Billions of dollars in shareholder value simply vanished.

Prior to the Vioxx recall, a growing body of evidence indicated that patients who used the drug for more than 18 months were exposed to an increased risk of cardiac side effects. Merck’s sudden decision to withdraw Vioxx was in stark contrast to its prior public announcements, which not only touted the drug's safety, but specifically refuted criticism of Vioxx on several fronts. In fact, only one month before the Vioxx recall, Merck issued a strongly worded press release defending Vioxx.

When Merck announced it was withdrawing Vioxx from the market on September 30, 2004, shares of the company's stock fell by $12 per share. The resulting market capitalization loss was a staggering $26 billion.

Pending Merck Vioxx Stock Fraud Supreme Court Case

A pending decision in a Vioxx class action lawsuit currently before the U.S. Supreme Court could provide an opportunity for Merck investors to recover their Vioxx losses. This lawsuit was filed in November 2003, following publication of the results from a Harvard University study that found Vioxx users faced an increased risk of heart attack. Plaintiffs alleged Merck had misled them by downplaying the significance of clinical-trial results that appeared to show that patients taking Vioxx faced an increased risk of heart attack.

Merck has tried to have this suit dismissed by claiming it was filed outside of the two-year statute of limitations required for investor fraud lawsuits. In oral arguments before the high court, Merck argued that investors should have suspected possible fraud by late 2001, after the Food and Drug Administration sent the company a warning letter in September alleging that it misrepresented the safety profile of Vioxx by minimizing the drug's potential to increase a patient's risk of heart attack.

Media reports detailing the oral arguments indicated that many of the Supreme Court justices were skeptical of Merck's assertions. Legal experts have said that the questions posed by most of the nine justices suggested they are prepared to let shareholders sue Merck for alleged deception about the risks posed by Vioxx. A ruling against Merck in this case would greatly relax the deadlines for investor fraud lawsuits. A decision is expected in June 2010.