Today, Merck & Co. lawyers told the Supreme Court that the window for action against them had passed.
They argued that investors waited too long and did not do all of the necessary investigations to sue over the drug maker’s painkiller, Vioxx.
The judgment in this case will clarify the legal standard for determining exactly when the clock starts ticking for the two-year window to sue a company accused of defrauding investors.
Vioxx had been taken off the market in September of 2004 after is was found to double to risks of heart attack, stroke and death. Investors accused Merck of supplying misleading information or omitting information about the risks of the drug.
The court will make a decision on the case next year.
Stocks of Merck were down 0.21 to $36.09 in afternoon trading.
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