LITTLE ROCK, Ark., Oct. 8, 2004 (PRIMEZONE) -- Emerson Poynter LLP (http://www.emersonpoynter.com) announced today that it has commenced an investigation regarding Merck & Co., Inc. ("Merck" or the "Company") (NYSE:MRK) for violations of the Employee Retirement Income Security Act of 1974 ("ERISA"). This retirement plan investigation focuses on investments in Company stock by the Merck & Co., Inc. Employee Savings and Security Plan and the Merck & Co., Inc. Employee Stock Purchase and Savings Plan (the "Plans").
Emerson Poynter's investigation focuses on concerns that Merck and other fiduciaries for the Plans may have breached their ERISA-mandated fiduciary duties of loyalty and prudence by (1) failing to prudently and loyally manage the Plans' assets by investing a significant amount of the Plans' assets in Merck stock when it no longer was a prudent investment for participants' retirement savings; (2) failing to monitor and provide fiduciary appointees with information that the appointing fiduciaries knew or should have known that the monitored fiduciaries needed in order to prudently manage the Plans' assets; (3) failing to provide complete and accurate information to participants and beneficiaries regarding Merck's business prospects and financial performance as a result of among other problems, the safety of VIOXX; and (4) breaching their duty to avoid conflicts of interest.
Emerson Poynter LLP has substantial experience representing plan participants in ERISA actions and investors in securities fraud class action lawsuits. The firm represents investors and retirement plan participants throughout the nation in such cases as Enron, Reliant Energy, Goodyear, Cardinal Healthcare, and ADC Telecommunications from its offices in Houston, Seattle, and Little Rock.
If you are a member of one of the Plans and purchased or held Merck stock through the Plans, you may contact three any one of three of our paralegals working on this matter, Charles Gastineau, Tanya Autry or Michelle Raggio, or any other member of our legal team (Scott Poynter or John Emerson) by calling toll-free at 800/663-9817 or via e-mail at shareholder@emersonfirm.com.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca