Seeking Alpha
Profile| Send Message|
( followers)  
Merck (NYSE:MRK) has been beaten up lately in New Jersey over Vioxx. However a derivative shareholder suit has been dismissed. U.S. District Judge Stanley Chesler dismissed the suit.

The plaintiffs failed to comply with a federal court rule requiring shareholders to demand, prior to filing suit, that the board of directors take corrective action. An important governance issue that the lawyers overlooked.

You cannot just start lawsuits!

MRK 1-yr chart:

Merck 1 yr

Source: Merck Dodges a Bullet, Vioxx Lawsuit Dismissed (MRK)