Category Archives: Schering Plough securities fraud litigation Cavanaugh F

Miscellaneous Schering-Plough Putative Class Actions — Litigation Updates, here. . . .

Rather than set each of these up separately, I’ll consolidate these few litigation developments — as each one, individually, is relatively minor:

(1) The plaintiffs will have until September 22, 2008 to file their amended, consolidated complaint in In Re: Vytorin/Zetia Marketing, Sales Practices and Products Liability Litigation (MDL Case No. 1938, original lead case captioned Polk v. Schering-Plough et al., Case No. 08-285) — and, I bet some version of this Complaint Paragraph 72 will be featured, then and there. Heh!

(2) As earlier mentioned, the consolidated amended securities fraud complaint is at the moment due on August 1, 2008 — it too will likely feature some version of the above-mentioned Complaint Paragraph 72.

(3) Dr. Jeffery Feldstein’s attorneys — in USA v. Organon, et al. (Case No. 07-2690), the Qui Tam/False Claims Act case, are seeking an unspecified additional chunk of time to respond to, or otherwise move against the Schering Motion to Dismiss, filed by Arent Fox — Judge Cavanaugh hasn’t yet ruled on this rather customary request for an extension, but if nothing else happens, the response to motion will be returnable (due) on July 21, 2008. July 21, 2008, of course, is also the morning on which Schering will announce its second quarter financial results — a webcast, with a conference call.

I’d suspect Dr. Feldstein’s lawyers are thinking “there are so, so many grounds upon which to oppose — and so very little time(!)“. . . .

Said another way, I’d expect that response, when it comes, to lay the issue of “due diligence” directly at the feet of Schering-Plough, and its various investment bankers and securities underwriters.

(4) As earlier mentioned, Judge Cavanaugh consolidated two civil ERISA actions Gradone v. Schering-Plough, et al. (Case No. 08-1432 (DMC), U.S. Dist. Ct. N.J.) and Oettinger v. Schering-Plough, et al. (Case No. 08-2436 (WJM), U.S. Dist. Ct. N.J.), for all purposes and appointed interim class counsel. The now-consolidated cases have been re-named In re Schering-Plough Corp. ENHANCE ERISA Litigation (Case No. 08-1432 (DMC), U.S. Dist. Ct. N.J.).

Have a safe and happy Fourth!