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A class action lawsuit was filed on behalf of purchasers of Merck & Co. between May 22, 1999 and October 22, 2003. Intending to argue the Securities Exchange Act of 1934, the class action lawsuit is currently pending in the U.S. District Court for the Eastern District of Louisiana.
The lawsuit stems from allegations of false and misleading statements that were used for Merck''s marketing campaign for its'' painkiller Vioxx. The FDA sent a letter to Merck on November 16, 1999 stating certain Vioxx promotional pieces were false and misleading and lacked fair balance. Information on the seriousness of Vioxx side effects, including the increased risk for heart attacks considered significant.
The FDA warned Merck in another letter issued to the pharmaceutical company in September 2001 that its marketing of Vioxx was minimizing the potentially serious risk of increased heart problems that were discovered in a March 2000 released study, ironically sponsored by Merck.