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Pfizer Wins Dismissal of Shareholder Class Action Suit

As reported by Thomson Reuters and Law.com, Paul, Weiss client Pfizer Inc. achieved a major victory when a federal court granted the company's motion for summary judgment in In Re Pfizer Inc. Securities Litigation, a securities class action filed in the United States District Court for the Southern District of New York involving decade-old disclosures related to Celebrex and Bextra. The order dismisses the case in its entirety.

The ruling by U.S. District Judge Laura Taylor Swain came ahead of a September 9 trial in the case, which investors launched in 2004, and followed an earlier ruling precluding testimony by the plaintiff's damages expert.

The Paul, Weiss team included, among others, litigation partners Andrew Ehrlich and Chuck Davidow and counsel Daniel Juceam and Karen King.

July 8, 2014

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