King Investors Fail To Speed Suit Over $3.6B Pfizer Sale

Law360, New York (November 18, 2010, 6:40 PM EST) -- Shareholders of King Pharmaceuticals Inc. have lost a bid to expedite their putative class action claiming the company's $3.6 billion sale to Pfizer Inc. is an attempt to cash in on its strong development pipeline at the expense of investors and should be blocked.

On Wednesday Judge Ronnie Greer of the U.S. District Court for the Eastern District of Tennessee shot down the plaintiffs’ request for an order expediting discovery proceedings in anticipation of moving for a preliminary injunction to halt the proposed merger, saying the...
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