Oregon Sues Vioxx Manufacturer
By Dave Wilson
Published on August 31, 2005
The Oregon Public Employees Retirement fund owned approximately 1.1 million shares of Merck when Vioxx was recalled late last year. The treasurer alleges that Merck engaged in corporate wrongdoing by trying to hide damaging Vioxx evidence.
The treasurer claims that the retirement fund has lost at least $25 million on Merck stock since Vioxx was recalled in September 2004. The lawsuit seeks to recover $15 million in damages from the Vioxx manufacturer.
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