Oregon Attorney General Sues Vioxx Maker, Insurance Broker for Fraud

Summary

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Oregon State Treasurer Randall Edwards and Attorney General Hardy Myers have filed two securities fraud lawsuits on behalf of the Oregon Public Employee Retirement Fund.

The suit seeks damages in excess of $15 million for violation of the Oregon Securities Law, alleging that OPERF was harmed by Merck's failure to disclose that Vioxx caused a high risk of heart attacks, strokes and death. OPERF had purchased more than one million shares of Merck stock before the company announced it would withdraw the drug.

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Oregon Attorney General Sues Vioxx Maker, Insurance Broker for Fraud

The State asserts that Merck knew of the medical risk ...

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