High Court Upholds 3rd Circuit's Ruling, Finds Stockholder's Suit Against Merck Was Timely

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on April 27 affirmed a Third Circuit U.S. Court of Appeals ruling that a shareholder derivative lawsuit over Merck & Co. Inc.'s marketing of Vioxx was timely and held that the statute of limitations on a claim under Section 10(b) of the...

BP Shareholders File Lawsuit Over Gulf Oil Spill In Eastern District Of Louisiana

NEW YORK - Citing the company's history of safety lapses, cost cutting and workplace disasters, shareholders who purchased stock in BP on June 10 filed a class action lawsuit based on claims that the company mislead investors before the Deepwater Horizon oil spill in the Gulf of Mexico ( Lore...

High Court: Investors Properly Pleaded Materiality In Securities Class Action Suit

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on March 22 unanimously affirmed that shareholders of a drug maker properly showed that the drug maker violated federal securities law by failing to disclose that one of its products caused adverse effects ( Matrixx Initiatives, Inc., et al. v...