Pfizer Can't Shake Fraud Suit Over Risky Arthritis Drugs

Law360, New York (March 23, 2012, 4:37 PM EDT) -- A New York federal judge refused Thursday to reconsider Pfizer Inc.'s bid to toss a putative class action securities fraud suit claiming it concealed studies showing heart attack risks associated with arthritis drugs Celebrex and Bextra.

The order by U.S. District Judge Laura Taylor Swain kept in place a July 2008 decision finding Pfizer shareholders had adequately alleged several former top executives intentionally misled them about the results of the studies. The so-called finding of scienter was based on statements by four former employees of a...
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