Investors Opt Out Of Pfizer Securities Fraud Class Action

Law360, New York (November 16, 2012, 7:58 PM EST) -- A group of investors opted out of a securities fraud class action against Pfizer Inc. and filed its own suit Thursday in New York federal court alleging the pharmaceutical giant concealed heart attack risks linked to arthritis drugs Celebrex and Bextra.

In a complaint filed in the Southern District of New York, a group of investors, including the California Public Employees' Retirement System, accused Pfizer and several of its executives of lying to investors and the public about the health risks of the two drugs in...
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