Welcome to the information website for In re Schering-Plough Corporation / ENHANCE Securities Litigation (the “Action”).
Please be advised that Lead Plaintiffs, the Arkansas Teacher Retirement System, the Public Employees’ Retirement System of Mississippi, the Louisiana Municipal Police Employees’ Retirement System, and the Massachusetts Pension Reserves Investment Management Board (collectively, “Lead Plaintiffs”), on behalf of themselves and the Class (defined below), reached a settlement of the Action with Defendants for $473,000,000 in cash (the "Settlement") which has been approved by the Court.
If you are a member of the Class certified by the Court, your rights will be affected and you may be eligible for a payment from the Settlement. The certified Class consists of:
All persons and entities who purchased or otherwise acquired Schering-Plough Corporation (“Schering”) common stock, 6% mandatory convertible preferred stock maturing August 13, 2010 (“Preferred Stock”), or call options, and/or sold Schering put options, during the period between January 3, 2007 through and including March 28, 2008 (the “Class Period”), and did not sell their stock and/or options on or before December 11, 2007, and were damaged thereby (the "Class"). Certain persons and entities who otherwise come within the definition of the Class are excluded from the Class by Order of the Court.
The Court held a hearing (the "Settlement Hearing") on October 1, 2013 at 10:00 a.m., before the Honorable Dennis M. Cavanaugh to determine, among other things, whether the proposed Settlement is fair, reasonable, and adequate and should be approved; whether the proposed Plan of Allocation is fair and reasonable and should be approved; and whether Co-Lead Counsel’s application for an award of attorneys’ fees and reimbursement of Litigation Expenses should be granted. Judge Cavanaugh entered a Judgment Approving Class Action Settlement, an Order Approving Plan of Allocation of Net Settlement Fund, and an Order Awarding Attorneys’ Fees and Expenses on October 1, 2013.
IMPORTANT DATES AND DEADLINES
|November 18, 2013||Claim Filing Deadline.The deadline to file a Claim Form for this matter was November 18, 2013. However, you may still file a claim, even if untimely, and your claim will be processed as a late claim. While there can be no assurance, it is possible that the Court will accept late claims that are otherwise eligible.|
|October 1, 2013||Judge Cavanaugh entered a Judgment Approving Class Action Settlement, an Order Approving Plan of Allocation of Net Settlement Fund, and an Order Awarding Attorneys’ Fees and Expenses on October 1, 2013.|
|Class Period:||January 3, 2007 through and including March 28, 2008|