And I'm one of them...
It was reported today in the WSJ Law blog that Merck's Win Another Loss for Plaintiffs' Bar as the company withstood an onslaught of potential claims when the judge in the case threw out the law suit based, not on Merck's outlined defense, but on the simple timing of the claims which according to statute missed an implied deadline to file of two years. Naturally the case will be appealed but this is a big win and the shares are up over $4 to $50.40 as I write. It closed yesterday at $46.36 per share. More stock highlights are being reported on Marketwatch.com Merck shares jump on Vioxx rulings, raised forecast.
This is sure to be one of the big stories of the day, and should be big news in the coming week as more details unfold.
If you are interested in long-term value investing read Chasing Value.
Sheldon Liber is the CEO of a small private investment company and the vice president for design and research at an architecture & planning firm. Check out my other posts for BloggingStocks here.
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