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Case Status:    SETTLED
On or around 01/16/2014 (Other)

Filing Date: January 18, 2008

According to a press release dated January 18, 2008, Schering-Plough 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.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Major Drugs
Headquarters: United States

SECURITIES INFORMATION:

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

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: D. New Jersey
DOCKET #: 08-CV-00397
JUDGE: Hon. Dennis M. Cavanaugh
DATE FILED: 01/18/2008
CLASS PERIOD START: 07/24/2006
CLASS PERIOD END: 01/14/2008
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Brower Piven (Baltimore)
    The World Trade Center-Baltimore. 401 East Pratt Street, Suite 2525, Brower Piven (Baltimore), MD
    410.332.0030 410.685.1300 · info@browerpiven.com
  2. Carella Byrne Bain Gilfillan Cecchi Stewart & Olstein
    5 Becker Farm Road, Carella Byrne Bain Gilfillan Cecchi Stewart & Olstein, NJ 7068
    973.994.1700 973.994.1744 · Info@CarellaByrne.com
  3. Cohn, Lifland, Pearlman, Herrmann & Knopf
    Park 80 Plaza West-One, Cohn, Lifland, Pearlman, Herrmann & Knopf, NJ 7663
    201845.9600 · info@njlawfirm.com
  4. Coughlin Stoia Geller Rudman & Robbins LLP (San Diego)
    655 West Broadway, Suite 1900, Coughlin Stoia Geller Rudman & Robbins LLP (San Diego), CA 92101
    619.231.1058 619.231.7423 · info@csgrr.com/
  5. Kahn Gauthier Swick, LLC (New Orleans)
    650 Poydras St. Suite 2150, Kahn Gauthier Swick, LLC (New Orleans), LA 70130
    504.455.1400 · lewis.kahn@kglg.com
No Document Title Filing Date
COURT: D. New Jersey
DOCKET #: 08-CV-00397
JUDGE: Hon. Dennis M. Cavanaugh
DATE FILED: 09/15/2008
CLASS PERIOD START: 07/24/2006
CLASS PERIOD END: 03/28/2008
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Litowitz Berger & Grossmann LLP (Former New York)
    1285 Avenue of the Americas, 33rd Floor, Bernstein Litowitz Berger & Grossmann LLP (Former New York), NY 10019
    212.554.1400 212.554.1444 · blbg@blbglaw.com
  2. Carella Byrne Bain Gilfillan Cecchi Stewart & Olstein
    5 Becker Farm Road, Carella Byrne Bain Gilfillan Cecchi Stewart & Olstein, NJ 7068
    973.994.1700 973.994.1744 · Info@CarellaByrne.com
  3. Labaton Sucharow LLP
    140 Broadway, Labaton Sucharow LLP, NY 10005
    212.907.0700 212.818.0477 · info@labaton.com
No Document Title Filing Date
No Document Title Filing Date