Monday, May 3, 2010

Supremes Deny Cert. In Pharmacia's Hassan-Era Securities Fraud Suit


As I predicted last week when the Supremes handed down Reynolds v. Merck, the court has denied a Pfizer (as Pharmacia's successor) bid to throw out this Celebrex® [non-]disclosures federal securities class action suit. That federal complaint names as defendants (among others) both Fred Hassan and Carrie Cox. Here's the docket item containing that order:

. . . .May 3 2010 | Petition DENIED. The Chief Justice took no part in the consideration or decision of this petition. . . .

Ex-CEO Fred Hassan may end up in the witness box on this, yet. So too, may Carrie Smith Cox. Just about a decade too late, for the shareholders of legacy Schering-Plough.

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