Judge Kicks Celebrex Investor Suit For Late Filing

Law360, New York (October 31, 2007, 12:00 AM EDT) -- A union pension plan's securities class action that accused Pfizer Inc. of misrepresenting clinical studies of hit arthritis painkiller Celebrex has been junked because, according to the New Jersey district judge who oversaw it, the plaintiffs dallied too long before filing it.

Judge Anne Thompson said that for the type of Securities Exchange Act claims the Alaska Electrical pension Fund and others had filed in 2003, the statute of limitations was two years after the discovery of the facts constituting the violation.

The date of that...
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