Investors Compete To Lead Pfizer Derivative Suit

Law360, New York (October 9, 2009, 1:32 PM EDT) -- Institutional investor Amalgamated Bank is competing with an individual shareholder over who will lead a consolidated derivative lawsuit alleging that Pfizer Inc.'s executives harmed the company by promoting prescription drugs for unapproved, off-label uses.

At least eight derivative complaints have been filed in the U.S. District Court for the Southern District of New York since Pfizer agreed last month to pay a record $2.3 billion in civil and criminal fines.

On Thursday, individual shareholder Henrietta Klein lodged a motion requesting that the current cases and all...
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