Skandia Joins Race For Lead Status In Pfizer Case

Law360, New York (October 15, 2009, 6:08 PM EDT) -- Skandia Life Insurance Co. Ltd. has become the latest party to request lead plaintiff status in a consolidated derivative lawsuit accusing Pfizer Inc. executives of harming the company by promoting prescription drugs for unapproved off-label uses.

In a memorandum filed Wednesday in the U.S. District Court for the Southern District of New York, Skandia claims that, as a large institutional investor holding about 2.1 million Pfizer shares, “it is compelled ... to litigate this action as efficiently and effectively as possible.”

The company also contends that...
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