Schering-Plough To Settle Securities Suit For $165M

Law360, New York (March 13, 2009, 12:00 AM EDT) -- After announcing its $41 billion merger deal with Merck & Co. earlier in the week, Clarinex maker Schering-Plough Corp. on Friday confirmed a $165 million deal that settles a consolidated securities class action over the drugmaker’s alleged failure to disclose information about the manufacturing safety problems that led to a delay of the drug's release.

On Friday, an attorney representing plaintiffs in the action in the U.S. District Court for the District of New Jersey released a statement confirming that the plaintiffs had reached an agreement...
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