United States Supreme Court

In a 2003 securities fraud class action alleging that Merck & Co. knowingly misrepresented the heart-attack risks associated with its drug Vioxx, the Third Circuit's reversal of the district court's dismissal of the complaint as untimely is affirmed where: 1) the limitations period in section 1658(b)(1) began to run once the plaintiff actually discovered or a reasonably diligent plaintiff would have discovered the facts constituting the violation whichever came first; and 2) prior to November 6, 2001, the plaintiffs did not discover, and Merck did not show that a reasonably diligent plaintiff would have discovered, the facts constituting the violation.

Appellate Information

• Decided 04/27/2010
• Published 04/27/2010

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Court

• United States Supreme Court

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