04/29/2010 03:45:00 PM EST
Merck & Co. v. Reynolds, 2010 U.S. LEXIS 3671 (Apr. 27, 2010)
Overview: "Discovery" of facts that put investors
on "inquiry notice" did not automatically begin 28 U.S.C.S. §
1658(b)'s limitations period, and since scienter was a "fact" and an
FDA warning letter and products liability suits showed little if nothing about
a drug company's fraudulent intent, a 15 U.S.C.S. § 78j(b) securities fraud
suit was timely.
Kannon K. Shanmugam argued the cause for petitioner.
Evan R. Chesler argued the cause for petitioner.
David C. Frederick argued the cause for the respondent.
Max W. Berger argued the cause for the respondent.
David A. P. Brower argued the cause for the respondent.
Judge: BREYER, J., delivered the opinion
of the Court, in which ROBERTS, C.J., and KENNEDY, GINSBURG, ALITO, and
SOTOMAYOR, JJ., joined. STEVENS, J., filed an opinion concurring in part and
concurring in the judgment. SCALIA, J., filed an opinion concurring in part and
concurring in the judgment, in which THOMAS, J., joined.
Lexis.com subscribers can view the enhanced version of Merck & Co. v. Reynolds
can view the free, unenhanced version of Merck & Co. v. Reynolds on lexisONE's Free Case Law