Depending On When They Bought And Sold, Legacy Schering-Plough Common Stock Holders Will Get. . .

. . .Well, it’s complicated — we don’t know yet. Sorry. [This whole post is a response to a commenter on the New Merck Reviewed backup site — commenter “Been There; Done That” — asked about the amounts involved for individual investors.] To be clear: the below is only as it stands in its proposed form — to be preliminarily approved and sent out to class members after the Fourth of July — but beginning at page 12 of the attached proposed order (a 77 page PDF file; at a hefty 3.45 Mb, you’ll need to be patient, it will take a while to download to your screen), you’ll be able to calculate how much you are owed, on legacy Schering-Plough common, preferred and the various traunches of stock options traded during the class period. To tell the truth, it will be almost as complicated as filing your IRS Form 1040 — so again, be patient. [Or give it to your financial advisor, or lawyer. And wait a few weeks.]

If someone asks really nicely, I’ll also post the legacy-Merck version (each differs only as to how the payment is measured, given that the two stocks traded at differing prices, prior to the wipe out transaction).

Remember — this is preliminary only — you’ll need to check the official website, at http://www.scheringvytorinsecuritieslitigation.com, to see the “live” version, under the menu called “Documents” — after the Fourth of July, for the final, as mailed, version. But for common stockholders of legacy Schering-Plough, the payments will be as high as $12 per legacy Schering-Plough share involved — depending on when or whether you bought or sold. Here is a link to the official legacy-Merck version of the class settlement site.

We will keep you posted, as the $688 million settlement winds to a close, right here. My last backgrounder on it all is here.

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