Pfizer Pays $67.5M To End Investors' Pristiq Disclosure Row

Law360, New York (November 13, 2012, 1:29 PM EST) -- Pfizer Inc. unit Wyeth Pharmaceuticals Inc. agreed Friday to pay $67.5 million to settle a class action in New York federal court brought by a group of investors who say the company failed to disclose serious side effects associated with the antidepressant Pristiq.

Pfizer will not admit any wrongdoing as part of the settlement, which resolves allegations brought by the City of Livonia Employees’ Retirement System that Wyeth, as an independent company in 2006, artificially inflated its stock price by failing to disclose heart- and liver-related...
To view the full article, register now.