Schering-Plough Settlement OK'd, Lawyers Get $9.5M

Law360, New York (January 15, 2008, 12:00 AM EST) -- A federal judge has given her blessing to a settlement in a derivative lawsuit against Schering-Plough Corp., awarding attorneys $9.5 million for their work in negotiating an agreement to overhaul the drugmaker's corporate governance.

Judge Katharine S. Hayden of the U.S. District Court for the District of New Jersey said in a final order dismissing the case Tuesday that the settlement was reasonable, fair and in the best interests of both Schering and its shareholders, who sued the company's board of directors when problems at two...
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