Most Of ERISA Securities Case V. Pfizer Moves Ahead

Law360, New York (March 23, 2009, 12:00 AM EDT) -- A judge has dismissed part of a putative class action accusing Pfizer Inc. and Pharmacia Corp. of violating the Employee Retirement Income Security Act by artificially inflating the value of the companies' securities through the marketing of the anti-inflammatory drugs Celebrex and Bextra, but the bulk of the case will proceed.

In an opinion Friday, Judge Laura Taylor Swain of the U.S. District Court for the Southern District of New York dismissed all claims regarding plans covering employees based in Puerto Rico and two counts alleging...
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