BALTIMORE, Oct. 1, 2004 (PRIMEZONE) -- Law Offices Of Charles J. Piven, P.A. today announced that a securities class action was commenced on behalf of shareholders who purchased, converted, exchanged or otherwise acquired the common stock of Merck & Co., Inc. (NYSE:MRK) between October 30, 2003 and September 29, 2004, inclusive (the "Class Period").
The case is pending in the United States District Court for the District of New Jersey. The action charges that defendants violated federal securities laws by issuing a series of materially false and misleading statements to the market throughout the Class Period, which statements had the effect of artificially inflating the market price of the Company's securities.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you are a member of the proposed class, you may move the court no later than November 30, 2004 to serve as a lead plaintiff for the proposed class. In order to serve as a lead plaintiff, you must meet certain legal requirements. To be a member of the proposed class you need not take any action at this time, and you may retain counsel of your choice.
If you acquired shares of Merck & Co., Inc. during the Class Period indicated and want to discuss your legal rights, you may e-mail or call Law Offices Of Charles J. Piven, P.A. who will, without obligation or cost to you, attempt to answer your questions.
The firm is also examining whether the conduct described in the action may have violated the Employee Retirement Income Security Act of 1974 ("ERISA") in relation to its handling of investments in the Company's employee retirement benefit plan, including the 401(k) Plan. The firm is assessing whether the Company and/or any administrators of any plans breached their fiduciary duties by: (a) negligently misrepresenting and negligently failing to disclose material facts to the retirement benefit plan and the plan participants in connection with the management of the plan's assets and (b) negligently permitting the retirement benefit plan to purchase and hold Merck stock when it was imprudent to do so.
Charles J. Piven has been involved in securities litigation for approximately 20 years. You may contact Law Offices Of Charles J. Piven, P.A. at The World Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore, Maryland 21202, by email at hoffman@pivenlaw.com or by calling 410/986-0036.