Sanofi Slapped With Securities Suit Over Obesity Drug

Law360, New York (November 14, 2007, 12:00 AM EST) -- An institutional investor has launched a purported securities class action against Sanofi-Aventis accusing the pharmaceutical giant and several of its top executives of making misleading statements regarding its ill-fated obesity drug Zimulti.

The lawsuit, filed Tuesday in the U.S. District Court for the Southern District of New York by City of Taylor General Employees Retirement System, seeks to recover damages on behalf of purchasers of Sanofi publicly traded stock between Feb. 17, 2006 and June 13, 2007.

The complaint charges Sanofi – the third largest pharmaceutical...
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