Judge Certifies Class In ERISA Suit Against Schering

Law360, New York (September 30, 2008, 12:00 AM EDT) -- A federal judge on Monday granted class action status to a five-year-old ERISA case that alleges Schering Plough Corp. and its fiduciaries misled employees about the value of its own stock, causing them to invest their pensions in securities that ultimately lost tens of millions in value.

Agreeing with a magistrate judge's report on the case, Judge Katharine S. Hayden of the U.S. District Court for the District of New Jersey wrote that the class will consist of all persons who were participants in or beneficiaries...
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