Judge Cavanaugh just entered, and had filed an omnibus order this morning, consolidating these federal putative class action lawsuits, for all purposes, under case no. 09-cv-1099: Landesbank Investment Berlin GmbH (Case No. 09-1099), Husarsky (Case No. 09-1244), Louisiana Police Employees Retirement Fund (Case No. 09-1247), and City of Edinburgh, Scotland (Case No. 09-1800). The 09-1099 case file (Landesbank) will now contain all of the consolidated filings.
Next up will be a timetable for the filing of a single, but massive, amended, consolidated putative class action complaint.
Still remaining to be decided is whether the federal court will "abstain", and transfer all of these suits to the state courts of New Jersey -- where the Firefighters and Police Pension-Funds (ACT 345), for the City of Dearborn Heights, Michigan, have filed suit in the Chancery Division of the Superior Court for Union County, New Jersey (Class Action Docket No. UNN - C - 48-09). Class plaintiffs in that suit include the retirement and pension funds for the City of Livonia Employees, the Westland Police and Firefighters and the County of Macomb Employees (all also located in Michigan). Here is a listing of most of these:
. . . .the [merger negotiation and review] process was grossly inadequate, amounting to a clear breach of the Schering-Plough officers' and directors' fiduciary duties. . . .
Stay tuned -- I'll keep you posted as developments warrant.
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