Business Wire - Merck and Schering-Plough Respond To Issues Raised About ENHANCE Clinical Trial
SAN FRANCISCO — Girard Gibbs LLP (http://www.girardgibbs.com) is investigating an alleged securities fraud by Schering-Plough Corp., Inc. (”Schering-Plough”) and certain of its executives between July 24, 2006 and January 14, 2008.
It is alleged that Schering-Plough issued a series of material misrepresentations in its filings with the Securities and Exchange Commission and press releases which artificially inflated the value of Schering-Plough shares. It is alleged that 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 effective than Zocor.
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On January 14, 2008, investors learned there were severe safety and efficacy issues related to the Schering-Plough’s sale of Vyotorin and that Schering-Plough had purposefully delayed the publication of a study showing that Vytorin was neither safe nor effective. Upon the release of this news by the company, Schering-Plough stock dropped to $26.09, a 5.9% decrease in overall value. By January 17, 2008 the stock price had plummeted even further, to a low of $20.50.
If you purchased or otherwise acquired Schering-Plough securities between July 24, 2006 and January 14, 2008, you may have suffered losses. For more information or to discuss your rights as an investor, please visit our website, http://www.girardgibbs.com/sgp.html, or contact Jonathan K. Levine, Esq. (jkl@girardgibbs.com) or Aaron M. Sheanin, Esq. (ams@girardgibbs.com) toll free at 866-981-4800.
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