Search By:
Products
Injury
Topic
Company
Industry
Merck may have breached its fiduciary duties to current and former employees who bought Merck stock in a Merck sponsired retirement plan.
Investigation Source
- Nationwide
Investigation Scope
Category Information
Investigation Topics
- Retirement Asset
- Investment Advisor Duties
Product or Service
- Retirement Plan
Injury Type
- Monetary Loss
Investigation Details
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.
(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.
Defendant Details
| Name (Stock Symbol) | Brief Description |
|---|---|
| Merck & Co. Inc. (MRK) | Merck & Co. Inc. is a large pharmaceutical company. |