Pristiq-Related ERISA Suit Against Wyeth Gets Booted

Law360, New York (March 18, 2010, 5:33 PM EDT) -- A federal judge has dismissed a putative class action accusing Wyeth Inc. and certain directors of breaching their fiduciary duty by imprudently steering workers into an investment option heavy on the pharmaceutical firm's stock.

Judge Richard J. Sullivan's ruling, issued Tuesday in the U.S. District Court for the Southern District of New York, dismissed all counts in the suit but gave named plaintiff Carlos M. Herrera two weeks to notify the court whether he intends to add allegations regarding company principals' sale of company stock during...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.