Sanofi Investors Win Class Cert. In Obesity Drug Suit

Law360, New York (March 20, 2013, 10:06 PM EDT) -- A New York federal judge on Wednesday certified a class of Sanofi-Aventis SA investors who claim the French pharmaceutical giant withheld information about anti-obesity drug Zimulti's link to severe psychiatric problems, finding the lead plaintiffs' securities fraud claims were typical of the class as a whole.

U.S. District Judge George B. Daniels rejected Sanofi's argument that the claims did not meet the typicality requirement for class actions because the lead plaintiffs' asset managers were closely following financial markets and the financial press at the time the...
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