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US court says Vioxx lawsuits can proceed

Tue, 04/27/2010 - 6:17am
The Associated Press

The U.S. Supreme Court says investors who lost huge amounts of dollars when Merck & Co. pulled its blockbuster drug Vioxx off the market can go ahead with a lawsuit against the pharmaceutical giant.

The high court on Tuesday agreed with a federal appeals court's decision to allow a class-action securities lawsuit. The lawsuit was related to the tens of billions of dollars in shareholder value lost overnight after Merck pulled Vioxx off the market.

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