Pfizer Knocks Out Securities Class Action Over Alzheimer’s Drug

On Friday, Newark, N.J., federal district court judge Susan Wigenton granted a motion to dismiss class action securities fraud claims pending since June 2010 against Pfizer and five former Wyeth executives. In a 14-page decision, Judge Wigenton concluded that the named plaintiff failed to adequately plead that the defendants misled investors about the success of clinical trials for bapineuzumab, a potential blockbuster drug developed by Pfizer and Elan to slow or prevent the effects of Alzheimer’s.

via Pfizer Knocks Out Securities Class Action Over Alzheimer’s Drug — AmLaw Litigation Daily