A federal judge has approved a $165 million settlement of a securities fraud suit against Schering-Plough -- one of the five largest securities class action recoveries in the District of New Jersey -- that includes more than $37 million for the plaintiffs lawyers. The suit accused Schering-Plough -- now a part of Merck & Co. -- of misleading investors by failing to disclose deficiencies in the manufacture of Clarinex that led the Food and Drug Administration in 2001 to delay its approval.
January 08, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
A federal judge in Newark, N.J., has approved a $165 million settlement of a securities fraud suit against Schering-Plough Corp. that includes more than $37 million for the plaintiffs lawyers.
U.S. District Judge Katharine Sweeney Hayden, in signing off on the deal Dec. 31, noted it was one of the five largest securities class action recoveries in the District of New Jersey. The largest was an agreement by Cendant Corp., approved in 2000, to pay $2.85 billion.
Presented by BigVoodoo
Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!
Law firms & in-house legal departments with a presence in the middle east celebrate outstanding achievement within the profession.
The premier educational and networking event for employee benefits brokers and agents.
Atlanta s John Marshall Law School is seeking to hire one or more full-time, visiting Legal WritingInstructors to teach Legal Research, Anal...
Lower Manhattan firm seeks a premises liability litigator (i.e., depositions, SJ motions, and/or trials) with at least 3-6 years of experien...
At NJM, a top-rated insurance company, we are seeking an Attorney on our Workers Compensation legal team with between 3 and 5 years of expe...
MELICK & PORTER, LLP PROMOTES CONNECTICUT PARTNERS HOLLY ROGERS, STEVEN BANKS, and ALEXANDER AHRENS
