Pfizer Escapes Shareholder Suit Over Wyeth Alzheimer's Drug

Law360, New York (April 23, 2013, 7:52 PM EDT) -- A New Jersey federal judge on Monday threw out an amended shareholder class action contending Pfizer Inc. deceived investors about the efficacy of Wyeth Inc.'s Alzheimer’s drug bapineuzumab, finding the plaintiffs had not sufficiently alleged that Wyeth's statements about the drug were affirmatively false.

U.S. District Judge Susan D. Wigenton said the suit against Pfizer and five of its executives still did not satisfy pleading standards even though the Security Police and Fire Professionals of America Retirement Fund had amended its claims by alleging the statements...
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