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Schering-Plough may have misrepresented the efficacy of Vytorin to the investor public by withholding the results from a clinical trial that did not meet critical endpoints.
Investigation Source (Case #08-cv-00397)
- Nationwide
Investigation Scope
Category Information
Investigation Topics
- Investments
- False And Misleading Statements
- Drug Or Medical Device Problem
Product or Service
- Investments
Injury Type
- Monetary Loss
Investigation Details
This is a securities class action lawsuit against Schering-Plough.
Schering-Plough engages in the discovery, development, manufacture, and marketing of medical therapies and treatments worldwide.
The securities class action lawsuit alleges that Schering-Plough failed to disclose and misrepresented material adverse facts thereby artificially inflating the value of Schering Plough shares during the Class Period. Specifically, the complaint alleges that, during the Class Period, Schering-Plough misled investors regarding the increased efficacy of Vytorin, a combination of Zetia and Zocor, over the cheaper generic form of Zocor (simvastatin), alone, and delayed disclosing results of the ENHANCE study demonstrating that Vytorin was not more efficacious than Zocor. Schering Plough knew that the ENHANCE study did not meet its endpoints, yet hid this fact from the investor community for over a year and made repeated positive statements about the study during that time frame.
Schering-Plough engages in the discovery, development, manufacture, and marketing of medical therapies and treatments worldwide.
The securities class action lawsuit alleges that Schering-Plough failed to disclose and misrepresented material adverse facts thereby artificially inflating the value of Schering Plough shares during the Class Period. Specifically, the complaint alleges that, during the Class Period, Schering-Plough misled investors regarding the increased efficacy of Vytorin, a combination of Zetia and Zocor, over the cheaper generic form of Zocor (simvastatin), alone, and delayed disclosing results of the ENHANCE study demonstrating that Vytorin was not more efficacious than Zocor. Schering Plough knew that the ENHANCE study did not meet its endpoints, yet hid this fact from the investor community for over a year and made repeated positive statements about the study during that time frame.
Defendant Details
| Name (Stock Symbol) | Brief Description |
|---|---|
| Schering-Plough Corporation (SGP) | Schering-Plough Corporation discovers, develops, manufactures, and sells pharmaceuticals worldwide. |