New York fund sues Merck & Co over US$171m loss

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US - The New York State Common Retirement Fund is suing pharmaceutical company Merck & Co. Inc over US$171m in losses suffered by the fund on Merck stock after the company withdrew its Vioxx arthritis drug because of safety concerns.

New York State Comptroller Alan G. Hevesi, sole trustee of the US$120bn fund, filed a securities fraud class action lawsuit in the United States district court for the District of New Jersey. He al...

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