Newark, NJ: (Apr-13-07) Investors filed a class action lawsuit against the drug manufacturer alleging securities fraud in connection with disclosures regarding the withdrawn pain killer Vioxx. Shareholders claimed Merck and its executives were involved in misrepresentations about the safety profile of Vioxx, which was taken off the market in 2004 after being linked to heart risks. Judge Stanley Chesler of the US District Court in Newark found that the securities action should be dismissed because all of the plaintiffs' claims were time-barred under the applicable statutes of limitations. The US Food and Drug Administration published a warning letter on Vioxx in September 2001, the court found that it was clear that warnings of fraud existed more than two years before this complaint was filed. [LAW FUEL: VIOXX SECURITIES DISMISSED]
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