The Supreme Court on Tuesday agreed to hear Merck & Co.'s challenge to a shareholder suit linked to litigation over the painkiller Vioxx. Company lawyers say the suit was filed outside the two-year statute of limitations and should not be permitted to go forward. The 3rd Circuit last year reversed a trial judge's dismissal of the suit. At issue in the case are so-called "storm warnings" -- the point at which the investor has received notice of the alleged wrongdoing and the window for bringing a suit begins.
Supreme Court Picks Up Merck Appeal in Vioxx Suit
The National Law Journal
May 27, 2009