Welcome to the Information Website for the In re Pfizer Inc. Securities Litigation
Update: Following nearly a decade of litigation, the case was set for trial on federal securities claims that the Court found were sufficient to overcome a motion to dismiss, two motions for reconsideration, objections to class certification, a five-day Daubert hearing on medical issues, and a summary judgment ruling in which the Court specifically credited the initial report and methodology of Plaintiffs’ damages expert. After the Court concluded that Plaintiffs had established triable issues on each element of their case, from which a jury could find a securities fraud perpetrated on the Class, the Court excluded the testimony of Plaintiffs’ damages expert and granted summary judgment to Defendants. Plaintiffs filed an appeal and the Second Circuit heard oral argument on May 26, 2015. It is unclear when the appeal will be resolved.
If you purchased and/or otherwise acquired Pfizer, Inc. (“Pfizer” or “PFE”) common stock between and including October 31, 2000 and October 19, 2005, you may have important legal rights.
The main complaint in this Action is that Pfizer and the Individual Defendants, who were allegedly controlling officers and/or directors of Pfizer, made materially false and misleading statements and omitted material information from Pfizer’s public reports and documents about the cardiovascular risks associated with Celebrex and Bextra. As a result of these misrepresentations, Plaintiffs allege that the price of Pfizer common stock during the Class Period was artificially inflated. Plaintiffs allege that once the truth about these cardiovascular risks began to emerge, the price of Pfizer common stock declined in value and Class Members suffered losses. Plaintiffs also allege that three former officers and/or directors of Pfizer sold shares of Pfizer stock during the Class Period while in possession of material information about the cardiovascular safety of Celebrex and Bextra that was not disclosed to the public. Plaintiffs are asserting claims under several provisions of the Federal Securities Exchange Act of 1934 (the “Exchange Act”).
The Frequently Asked Questions page of this website has more information on your rights as a class member in this Action.
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