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26-06-2014, 10:00 AM
An honorable member of the Coffee Shop Has Just Posted the Following:
Anyone got an update? After GIC got conned into buying Schering-Plough shares, and shares price proceed to drop, they decided to launch a lawsuit against the company in a NY court. Interestingly, this was not a class action lawsuit, which would indicate that other companies were conned into buying the shares. So, I guess these idiots did a shit due diligence on the purchase. Also, why sue the company and not their advisors, whoever it was? Could have been Morgan Stanley. Why stop there? Why not sue UBS too, after all they got conned into buying banking stocks during the subprime mortgage meltdown? How much was the loss, anyone know?
http://www.swfinstitute.org/swf-arti...hering-plough/ (http://www.swfinstitute.org/swf-article/singapores-gic-sues-merck-and-schering-plough/)
Click here to view the whole thread at www.sammyboy.com (http://www.sammyboy.com/showthread.php?184787-What-happened-to-the-GIC-lawsuit-against-the-pharmaceutical-company&goto=newpost).
Anyone got an update? After GIC got conned into buying Schering-Plough shares, and shares price proceed to drop, they decided to launch a lawsuit against the company in a NY court. Interestingly, this was not a class action lawsuit, which would indicate that other companies were conned into buying the shares. So, I guess these idiots did a shit due diligence on the purchase. Also, why sue the company and not their advisors, whoever it was? Could have been Morgan Stanley. Why stop there? Why not sue UBS too, after all they got conned into buying banking stocks during the subprime mortgage meltdown? How much was the loss, anyone know?
http://www.swfinstitute.org/swf-arti...hering-plough/ (http://www.swfinstitute.org/swf-article/singapores-gic-sues-merck-and-schering-plough/)
Click here to view the whole thread at www.sammyboy.com (http://www.sammyboy.com/showthread.php?184787-What-happened-to-the-GIC-lawsuit-against-the-pharmaceutical-company&goto=newpost).