Think “securities fraud litigation,” and Labaton Sucharow should pop to mind. During 2013, partners Christopher McDonald and Jonathan Plasse served as co-lead counsel with Bernstein Litowitz Berger & Grossmann in a class action against Schering-Plough Corp., recovering $473 million for investors. “It’s by far the largest settlement against a pharmaceutical company in a securities fraud class action,” McDonald said.
The plaintiffs alleged Schering misled them over a clinical trial testing the cholesterol drug Vytorin, which Schering marketed with Merck & Co. (The two later merged.) Publication of the results was delayed multiple times, McDonald said, but ultimately showed the drug failed, causing steep declines in Schering’s stock price.
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