According to a press release dated January 18, 2008, Schering-Plough Corporation engages in the discovery, development, manufacture, and marketing of medical therapies and treatments worldwide. The Complaint alleges that the Company and certain of its officers and/or directors failed to disclose and misrepresented material adverse facts known to Defendants or recklessly disregarded by them, thereby artificially inflating the value of Schering-Plough shares during the Class Period. Specifically, the Complaint alleges that during the Class Period, the Company and the other Defendants misled investors regarding the increased efficacy of Vytorin, a combination of Zetia and Zocor, over the cheaper generic form of Zocor (simvastatin) alone, and delayed disclosing results of the ENHANCE study demonstrating that Vytorin was not more efficacious than simvastatin.

On February 28, 2008, a stipulation and proposed order in regards to consolidating related securities actions was entered. Just as quickly, a motion to appoint lead Plaintiff, lead Counsel as well as to consolidate cases was filed on March 18, 2008 by several groups and individuals. As a result, the court entered an order on March 27, 2008 to consolidate case 08-CV-1000 under 08-CV-897 for all purposes. As for the appointment of lead Plaintiffs and Counsels, the court granted the motion filed earlier and entered its order on April 18, 2008.

On September 15, 2008, a consolidated class action complaint was filed with the court.

On September 02, 2009, the Defendants motions to dismiss Plaintiffs’ claims under the Exchange Act of 1934 and Securities Act of 1933 for failure to state a claim pursuant to Fed. R. Civ. P. 12(b)(6) were denied by the court.

Soon after on September 17, 2009, the Defendants filed a motion for Reconsideration on the earlier Motions to Dismiss, or, in the alternative, for Certification of the Court's Opinion and Order for Interlocutory Appeal Under 28 U.S.C. 1292(b).

On September 25, 2012, the Court issued an Order denying the Defendants' Motions for Summary Judgment.

On June 3, 2013, the Parties entered into a Stipulation of Settlement. This Settlement was preliminarily approved by the Court on June 6. On October 1, the Court issued an Order granting Final Approval of the Settlement. The Court also issued an Order approving attorneys' fees and expenses. Final Judgment was entered in this Action.