This is an ongoing investigation and pending ERISA class action lawsuit filed against Merck on behalf of all persons, who were participants in, or beneficiaries of:
(1) the Merck & Co., Inc. Employee Savings and Security Plan;
(2) the Merck Co., Inc. Employee Stock Purchase and Savings Plan;
(3) the Merck Puerto Rico Employee Savings and Security Plan; and
(4) the Merck-Medco Managed Care 401(k) Savings Plan.
The class action lawsuit covers all current and former employees who held Merck stock in any of these plans at any time between October 1, 1998 and September 30, 2004.
The class action complaint alleges that during the Class Period, Merck breached its fiduciary duties to Plaintiffs and the Class members by: Failing to prudently and loyally manage the Plans and Plans' assets and share material information with fellow fiduciaries; Failing to provide complete and accurate information to participants and beneficiaries Failing to monitor fiduciaries; Co-fiduciary liability; and Knowing participation in a breach of fiduciary duty.
Name (Stock Symbol)
Merck & Co. Inc. (MRK)
Merck & Co. Inc. is a large pharmaceutical company.
The information provided on ClassAdvocate.com is general in nature,
does not apply to any particular factual situation, and is not and
should not be taken as legal or other professional advice. We make no
commitment or warranty that the factual, legal or any other information
on ClassAdvocate.com, or on any linked website, is accurate, complete,
error-free, or current. As such, you should not rely on such information,
and should seek professional advice if and as you determine appropriate.
ClassAdvocate.com is not a lawyer referral service, and no attorney-client
or confidential relationship is or should be formed by use of the site.
The investigations listed on ClassAdvocate.com are attorney advertisements
and do not in any way constitute a referral or endorsement by ClassAdvocate.com
or any approved or authorized lawyer referral service.