NEW YORK, Jan. 24, 2008 (PRIME NEWSWIRE) -- Roy Jacobs & Associates announces that a class action lawsuit has been commenced in the United States District Court for the District of New Jersey on behalf of shareholders who purchased the securities of Schering-Plough Corporation ("Schering-Plough" or the "Company") (NYSE:SGP) between July 24, 2006 and January 14, 2008, inclusive (the "Class Period").
If you are interested in discussing this matter please call 1-888-884-4490 or email to rjacobs@jacobsclasslaw.com.
The complaint alleges that the Company and certain of its officers and directors failed to disclose and misrepresented material adverse facts known to defendants or recklessly disregarded by them, thereby artificially inflating the value of Schering-Plough shares during the Class Period. Specifically, the complaint alleges that, during the Class Period, the Company and the other defendants misled investors regarding the increased efficacy of Vytorin, a combination of Zetia and Zocor, over the cheaper generic form of Zocor alone, and delayed disclosing test results demonstrating that Vytorin was not more effective than generic Zocor.
If you are a member of the proposed Class, you may, not later than March 18, 2008, ask the Court to allow you to serve as lead plaintiff for the proposed Class. You do not have to retain your shares to serve in this capacity.
If you: (i) currently hold Schering-Plough shares acquired before July 24, 2006; (ii) purchased Schering-Plough shares between July 24, 2006 and January 14, 2008 at prices higher than the present market price (regardless of whether you have sold them), or (iii) sold put option contracts during the Class Period and suffered losses; and you are interested in discussing your rights free of charge, please contact Roy L. Jacobs. Mr. Jacobs will speak with you personally at no cost or obligation.