As a result of the reverse merger -- and the veritable plethora of pending would-be federal class actions -- alleging various sorts of securities fraud, ERISA violations, civil RICO violations and false-advertising infractions -- Judge Cavanaugh has agreed with the parties in each of these MDL suits (click image at right, to enlarge) that discovery ought to be coordinated.
At first blush, this development would nominally seem to favor New Merck, as it should reduce the number of potentially-duplicating appearances and productions for Lowenstein Sandler (Merck's defense firm).
Upon a closer review, though, I suspect this will benefit the various plaintiff-groups even more than New Merck, and its current and former officers (which term, loosely defined, still includes Hans Becherer, Fred Hassan, Carrie Smith Cox and Tom Sabatino, among others).
How so? Well, now all the various groups of plaintiffs' lawyers will likely share discovery strategy efforts, and share the financial burden of seeking the truth, all while minimizing New Merck's ability to slow-roll the process, by claiming conflicting discovery calendar obligations, or claiming "other duties" preclude the various executives' appearances at depositions, for example.
. . . .for the purpose of pre-trial discovery only. . . . these matters will be coordinated. . . .
No comments:
Post a Comment