US Law Firm Bernard M Gross PC Withdraws Class Action Lawsuit Against Merck & Co. Inc

Law Offices Bernard M. Gross, P.C. Announces That It Has
Withdrawn Its E.D.P.A. Class Action Lawsuit Filed On Behalf
of Merck & Co., Inc. Shareholders Which Will be Refiled in
the District of New Jersey — MRK

PHILADELPHIA, May 8, 2008 (Lawfuel) — Law Offices Bernard M.
Gross, P.C. had previously commenced a class action lawsuit in the
United States District Court, Eastern District of Pennsylvania,
08cv1603, on behalf of purchasers of the securities of Merck & Co.,
Inc. (NYSE:MRK) between October 22, 2007 through and including March
28, 2008, inclusive (the “Class Period”), seeking to pursue remedies
under the Securities Exchange Act of 1934. The lawsuit has been
withdrawn without prejudice since defendants had not appeared, answered
or moved for summary judgment. The action will be refiled in the United
States District Court for the District of New Jersey due to the many
related actions pending in New Jersey against Merck concerning Zetia,
Vytorin and the ENHANCE trials, including a lawsuit filed by the
Genesee County Employees’ Retirement System on behalf of purchasers of
the securities of Merck between July 24, 2006 and March 28, 2008. The
lead plaintiff motion must be filed in the United States District Court
for the District of New Jersey in Civil Action No. 08-02177 no later
than June 3, 2008.

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 at 866-561-3600 or
215-561-3600 or via email at [email protected] or
[email protected] 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.

The complaint charges Merck and Richard T. Clark, Chairman, President
and Chief Executive Officer with violations of the Federal Securities
Laws. The Complaint alleges that defendants deceived the investing
public regarding the results of the ENHANCE. The trial results when
fully explained and disclosed on March 28, 2008 showed that there was
no statistically significant difference between patient use of VYTORIN
versus patients treated with SIMVASTATIN. Based on trial results,
defendants were aware that the medical community would turn to
alternative, less expensive statins, thus seriously impacting the
Company’s earning. Moreover, the Company’s earnings were dependent on
increasing sales of VYTORIN as its patent and exclusivity on ZOCOR had
expired and the Company’s performance would and could be negatively
impacted by competition from cholesterol management products on the
market. These disclosures caused Merck’s stock price to fall from
$44.51 on March 28, 2008 to close on March 31, 2008 at $37.95.

If you wish to discuss this action or have any questions concerning
this Notice or rights or interests with respect to these matters,

Scroll to Top