Pfizer Inks $164M Settlement In Celebrex Securities Suit

Law360, New York (October 9, 2012, 3:13 PM ET) -- Pfizer Inc. agreed Friday to pay $164 million to settle a certified securities fraud class action in New Jersey federal court alleging it made materially false statements about a clinical study of blockbuster anti-inflammatory drug Celebrex, ending a much-publicized case that was set for trial later this month.

In settlement documents filed before U.S. District Judge Anne E. Thompson, the lead plaintiffs said Pfizer agreed to pay $164 million in cash to settle claims that it and Pharmacia Corp., which merged with Pfizer in 2003, misled...
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