The Full Amended ENHANCE-Era Putative Securities Class Action Complaint: 234 Pages Of PDF Goodness

Since the opinion allowing the same was entered two days ago, the plaintiffs have now filed the “as newly amended” complaint. It weighs in at 234 pages. Paragraphs 356 and 357 were the last two that the defense was trying to prevent being added. The court said otherwise, so now we have the full complaint as an 890 Kb PDF file. And just one bit, here:

. . . .240. Also on January 24, 2008, Senator Charles Grassley, ranking member of the Senate Committee on Finance, opened his own probe into Merck’s and S-P’s conduct, sending a letter to Merck’s CEO, Richard Clark, and to S-P’s CEO, Fred Hassan, requesting documents and the answers to questions regarding the delay in releasing the results of ENHANCE. Senator Grassley wrote that “there is no apparent gain in health benefits from using Vytorin over the much cheaper generic statin, simvastatin” but the Companies had the study results since April 2006, more than 20 months before releasing them. Senator Grassley also wrote to ACC President James Dove, AHA CEO M. Cass Wheeler, and SEC Chairman Christopher Cox to express his concerns about the extraordinary delay in releasing the ENHANCE study results. . . .

My take: This one is simply going to have to settle (given that personal liability is at stake for the legacy Schering-Plough, and legacy Merck, officers and directors, from that era) — and it is likely to settle for boxcar-style numbers.


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