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Case Status:    DISMISSED    
On or around 06/29/2004 (Date of order of final judgment)

Filing Date: October 10, 2002

According to the Company’s FORM 10-Q for the quarterly period ended June 30, 2004, the federal putative class actions regarding the meetings held with investors the week of September 30, 2002, and other communications were consolidated and, pursuant to that consolidation, an amended complaint dated March 13, 2003, was filed, alleging violations of Sections 10(b), 20(a) and 20(A) of the Securities Exchange Act of 1934 relating to the alleged disclosures made during the meetings mentioned in the paragraph above. The Company filed a motion to dismiss these class actions May 6, 2003, and the plaintiffs have sought leave of the court, and thereafter filed a second amended complaint. On June 29, 2004, the Court dismissed the second amended complaint.

The original complaint alleges that the official who is Schering's Chairman, Chief Executive Officer and President, and Putnam Investment Management, LLC ("Putnam") violated the Securities Exchange Act of 1934 (the "Act"). Schering and its subsidiaries are engaged in the discovery, development, manufacturing, and marketing of pharmaceutical products worldwide. Defendants violated the Act when the CEO, on behalf of Schering, selectively provided non-public material, adverse information about Schering's projected earnings to management of Putnam at a luncheon meeting on October 1, 2002. Kogan made further selective
disclosures of this non-public information to analysts at mid-day on
October 3, 2002. It was not until approximately 11:00 p.m. on October 3,
2002 that Schering publicly announced that its 2003 and 2004 earnings
would be far below analysts expectations. As a result of the selective
disclosure by defendant Kogan of this adverse, material, non-public
information to defendant Putnam and others, defendant Putnam and the
others were able to sell enormous amounts of Schering shares before the
general public received such information, thereby enabling the tippees
to benefit from the receipt of their inside information to the detriment of plaintiff and the Class. From the time defendant Putnam first learned of the material inside information through the close of the market on October 4, 2002, Schering stock plunged from $21.80 per share
to as low as $16.10 per share, a drop of over 25%.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: SGP
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


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COURT: D. New Jersey
DOCKET #: 02-CV-04905
JUDGE: Hon. Katharine S. Hayden
DATE FILED: 10/10/2002
CLASS PERIOD START: 10/01/2002
CLASS PERIOD END: 10/03/2002
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Brian Felgoise
    230 South Broad Street, Suite 404 , Brian Felgoise, PA 19102
    215.735.6810 215/735.5185. ·
  2. Brodsky & Smith, LLC (former Pennysylvania)
    11 Bala Avenue, Suite 39, Brodsky & Smith, LLC (former Pennysylvania), PA 19004
    610.668.7987 610.660.0450 · esmith@Brodsky-Smith.com
  3. Cohen Milstein Hausfeld & Toll PLLC (Seattle WA)
    701 Fifth Avenue, Suite 6860, Cohen Milstein Hausfeld & Toll PLLC (Seattle WA), WA 98014
    206.521.0080 206.521.0166 · lawinfo@cmht.com
  4. Entwistle & Cappucci LLP
    299 Park Avenue, 14th Floor, Entwistle & Cappucci LLP, NY 10171
    212.894.7200 212.894.7272 · info@entwistle-law.com
  5. Wechsler Harwood LLP
    488 Madison Avenue 8th Floor, Wechsler Harwood LLP, NY 10022
    212.935.7400 · info@whhf.com
No Document Title Filing Date
COURT: D. New Jersey
DOCKET #: 02-CV-04905
JUDGE: Hon. Katharine S. Hayden
DATE FILED: 08/28/2003
CLASS PERIOD START: 10/01/2002
CLASS PERIOD END: 10/03/2002
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cohen, Milstein, Hausfeld & Toll, P.L.L.C. (Washington, DC)
    1100 New York Avenue, N.W., Suite 500, West Tower, Cohen, Milstein, Hausfeld & Toll, P.L.L.C. (Washington, DC), DC 20005
    202.408.4600 202.408.4699 · lawinfo@cmht.com
  2. Entwistle & Cappucci LLP
    299 Park Avenue, 14th Floor, Entwistle & Cappucci LLP, NY 10171
    212.894.7200 212.894.7272 · info@entwistle-law.com
  3. Wechsler Harwood LLP
    488 Madison Avenue 8th Floor, Wechsler Harwood LLP, NY 10022
    212.935.7400 · info@whhf.com
No Document Title Filing Date