Judge OKs $486M Celebrex, Bextra Securities MDL Deal

Law360, New York (September 19, 2016, 3:25 PM EDT) -- A New York federal judge on Friday preliminarily approved Pfizer Inc.'s $486 million settlement resolving long-running multidistrict litigation accusing the company of misleading investors about the alleged risks of its pain treatments Celebrex and Bextra and set a final approval hearing for Dec. 21.

U.S. District Judge Laura Taylor Swain also said that in light of the extensive effort to notify potential class members as part of the class certification process, it's unnecessary to give people further opportunity to exclude themselves from the class. Furthermore, anyone opting out would appear to be time-barred from suing Pfizer for the claims released by...

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