Justices Give Boost to Securities Fraud Plaintiffs in Merck Ruling

, The National Law Journal


In a rare boost for securities fraud class actions, the Supreme Court on Tuesday closed off a statute of limitations defense for Merck & Co. in its battle against Vioxx-related shareholder suits. Plaintiffs and shareholder groups applauded the decision for sweeping away a morass of conflicting lower-court decisions on statute of limitations rules and finding that the clock should start ticking only after plaintiffs discover the facts of the fraud violation -- including whether the company intended to defraud investors.

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