Pfizer Wins OK For $75M Deal In Shareholder Suits

Law360, New York (December 15, 2010, 7:53 PM EST) -- A federal judge has given an initial blessing to Pfizer Inc.'s proposed $75 million settlement to end a slew of derivative suits lodged against the drugmaker's executives over a marketing campaign that resulted in $2.3 billion in claims.

Judge Jed S. Rakoff preliminarily approved the settlement in the U.S. District Court for the Southern District of New York on Tuesday, signing off on Pfizer's proposal to set up a $75 million fund, paid by the defendants' insurers, to cover the shareholder plaintiffs' legal fees and the...
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