Court says Vioxx lawsuits can proceed

WASHINGTON (AP) - The Supreme Court says investors who lost millions when Merck & Co. pulled its blockbuster drug Vioxx off the market can go ahead with a lawsuit against the pharmaceutical giant.

The high court on Tuesday agreed with a federal appeals court's decision to allow a class-action securities lawsuit. The lawsuit was related to the tens of billions of dollars in shareholder value lost overnight after Merck pulled Vioxx off the market.