Scott + Scott, LLC Announces Investigation Regarding Merck & Co. Pension/401k Plans in Support of Plan Participants and Beneficiaries.COLCHESTER, Conn. -- Law Firm with Substantial ERISA See Employee Retirement Income Security Act. ERISA See Employee Retirement Income Security Act (ERISA). Experience and Client Dedication Requested to Investigate on Behalf of Plan Participants Plan participants Employees or other beneficiaries who are eligible to receive benefits from a company's employee benefit plan. and Beneficiaries The law firm of Scott + Scott, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , (www.scott-scott.com or contact nrothstein@scott-scott.com) with substantial pension/ERISA (Employee Retirement Income Security Act The Employee Retirement Income Security Act of 1974 (ERISA), 29 U.S.C.A. § 1001 et seq. (1974), is a federal law that sets minimum standards for most voluntarily established Pension and health plans in private industry to provide protection for individuals enrolled in these plans. ) experience has been asked to investigate claims on behalf of those participants in the three pension plans of Merck & Co. (NYSE NYSE See: New York Stock Exchange : MRK MRK Merck & Company (stock symbol) MRK Mayer-Rokitansky-Kuster (anomaly) MRK Manual Remote Keying ) who have been affected by the recent problems at the Company (presently it is co-lead counsel in the ERISA litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. against Royal Dutch/Shell Petroleum). Last week, Merck abruptly recalled Vioxx, an arthritis treatment and one of the company's top-selling drugs, after an internal study showed that patients taking the drug were more likely to suffer a cardiac event than those taking placebo. The stock dropped from approximately $45 dollars and closed at $30.98 yesterday. Merck has three separate defined contribution plans: one for non-bargaining employees (the "Non-Union Plan"), a second for bargaining employees (the "Union Plan"), and a third for employees of Merck's Puerto Rico subsidiary (the "Puerto Rico Plan"). The Union and Non-Union Plans look to be very similar: both include a 401(k) component and a company match component; both offer a Merck Common Stock Fund as one of the investment alternatives under the 401(k); both require that, for employees 50 years old or younger, 50% of the company match must be made in Merck stock; both are administered by a management committee appointed by the CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. ; and both have hired Fidelity to serve as the trustee for the plans. Scott + Scott, LLC is investigating potential claims against Merck & Co., Inc. by current or former employees and their beneficiaries who purchased Merck shares through a Merck 401(k) retirement plan between May 21, 1999 and the present and who may be eligible to seek remedies. The claims under investigation include whether Merck 401(k) retirement plans invested in Merck stock legally under the Employee Retirement Income Security Act. If you bought Merck stock through a Merck 401(k) plan and you would like to discuss this matter or if you are interested in discussing the potential claims being investigated, please contact 800/332-2259. You may contact Scott + Scott at 800/404-7770 or 860/537-3818 (EDT EDT abbr. Eastern Daylight Time EDT Eastern Daylight Time EDT n abbr (US) (= Eastern Daylight Time) → hora de verano de Nueva York EDT ) or 800/332-2259 or 619/233-4565 (PDT PDT abbr. Pacific Daylight Time PDT Pacific Daylight Time PDT n abbr (US) (= Pacific Daylight Time) → hora de verano del PacĂfico PDT ) to discuss this action and your rights. Class members may also view Scott + Scott's clients' most recent filings on our website at http://www.scott-scott.com. You can also send a fax to the firm at 619/233-0508. Any interested party may contact attorney Neil Rothstein at nrothstein@scott-scott.com. Scott + Scott, LLC is dedicated to the aggrieved shareholder and plan participant as was evidenced in a Court decision recently in the Halliburton Securities Litigation. Scott + Scott, LLC was the law firm representing the one lead plaintiff out of four who fought for over a year to get the Court to reject a $6 million settlement which it argued was not properly litigated or settled. The story can be viewed at: http://www.washingtonpost.com/wp-dyn/articles/A13102-2004Sep10.html. Scott + Scott, LLC, a Connecticut-based law firm with offices in Ohio and California, is a law firm with a national practice and reputation. Scott + Scott has dedicated itself to client communication and satisfaction. The firm is currently litigating major securities, antitrust and employee retirement plan cases throughout the United States and represents pension funds, charities, foundations, individuals and other entities worldwide in both class and non-class cases. Please visit our website at http://www.scott-scott.com to learn more about the firm, its practice, this case and other cases. The firm's office in Connecticut is located at 108 Norwich Avenue, Colchester, CT, 06415. This release has been issued with consent of plaintiff. |
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