Judge Won't Rehear Dismissal Bid In Wyeth Pristiq Suit

Law360, New York (November 24, 2010, 12:22 PM EST) -- Pfizer Inc. unit Wyeth Pharmaceuticals Inc. has failed for a second time to persuade a judge to dismiss a securities class action over alleged false and misleading statements about its depression and menopause drug Pristiq.

Judge Richard J. Sullivan denied Wyeth's motion for reconsideration in the U.S. District Court for the Southern District of New York on Monday.

Wyeth had contended that the adverse events the plaintiffs identified were not statistically significant and so the defendants had no duty to disclose them. Accordingly, the defendant’s statements...
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