Pfizer Investors Ask 3rd Circ. To Revive Alzheimer's Drug Row

Law360, Philadelphia (January 8, 2014, 1:51 PM EST) -- A class of Pfizer Inc. shareholders asked the Third Circuit on Wednesday to revive a securities fraud suit, arguing that a press release updating the public with the status of an Alzheimer’s drug served to mislead investors.

Attorney Daniel Berger of Grant & Eisenhofer PA told the three-judge panel that when Pfizer announced in May 2007 that it was moving forward to a third trial phase for Wyeth Inc.'s bapineuzumab, the company was indicating that phase two results were “spectacular” — a word the company had...
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