The Law Offices of Frank R. Cruz reminds investors of the upcoming April 14, 2025 deadline to participate as a lead plaintiff in the securities fraud class action lawsuit filed on behalf of investors who acquired Merck & Co (“Merck” or the “Company”) (NYSE: MRK) securities between February 3, 2022, to February 3, 2025, inclusive (the “Class Period”).
IF YOU ARE AN INVESTOR WHO LOST MONEY ON MERCK & CO (MRK), CLICK HERE TO PARTICIPATE IN THE SECURITIES FRAUD LAWSUIT.
What Happened?
On July 30, 2024, Merck released its second quarter 2024 financial report and disclosed a significant reduction in Gardasil vaccinations, resulting in an overabundance of inventory at Merck’s Chinese distributor. The Company announced that its shipments of Gardasil to China may fall below contracted levels for 2024.
On this news, Merck’s stock price fell $12.53, or 9.8%, to close at $115.25 per share on July 30, 2024, thereby injuring investors.
Then, on February 4, 2025, Merck disclosed that it would entirely cease shipments of Gardasil to China “through at least midyear” to facilitate a “rapid reduction of inventory,” citing a continued over-inflation of channel inventories as demand in China had “not recovered to the level [the Company] had expected.” Merck also announced that it would no longer achieve its long-forecasted $11 billion in sales of Gardasil by 2030.
On this news, Merck’s stock price fell $9.05, or 9.1%, to close at $90.74 per share on February 4, 2025, thereby injuring investors further.
What Is The Lawsuit About?
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Merck lacked visibility into demand for Gardasil in China among eligible and otherwise targeted populations, resulting in the inflated inventory of its distributor; and (2) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you purchased or otherwise acquired Merck securities between February 3, 2022, to February 3, 2025, the deadline to seek appointment as the lead plaintiff in the securities fraud class action is April 14, 2025.
Contact Us To Participate or Learn More:
If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact us:
Frank R. Cruz
The Law Offices of Frank R. Cruz,
2121 Avenue of the Stars, Suite 800,
Century City, California 90067
Email us at: info@frankcruzlaw.com
Call us at: 310-914-5007
Visit our website at www.frankcruzlaw.com
Follow us for updates on Twitter: twitter.com/FRC_LAW
If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250411533427/en/
Contacts
Contact Us:
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com
