Brower Piven Encourages Investors Who Purchased 20,000 or More Shares of
Wyeth Common Stock to Inquire About the Lead Plaintiff Position in
Securities Fraud Class Action Lawsuit Before the June 11, 2013 Lead
STEVENSON, Md. -- April 18, 2013
Brower Piven, A Professional Corporation announces that a class action lawsuit
has been commenced in the United States District Court for the Southern
District of New York on behalf of purchasers of Wyeth, now part of Pfizer,
Inc. (NYSE: PFE) (“Wyeth” or the “Company”), common stock during the period
between July 21, 2008 and July 29, 2008, inclusive (the “Class Period”).
If you purchased Wyeth common stock during the Class Period you may obtain
additional information about this lawsuit and your ability to become a lead
plaintiff by contacting Brower Piven at www.browerpiven.com, by email at
firstname.lastname@example.org, by calling 410/415-6616, or at Brower Piven, A
Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153.
Attorneys at Brower Piven have combined experience litigating securities and
class action cases of over 60 years.
No class has yet been certified in the above action. Members of the Class will
be represented by the lead plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must apply
to be appointed lead plaintiff no later than June 11, 2013 and be selected by
the Court. The lead plaintiff will direct the litigation and participate in
important decisions including whether to accept a settlement and how much of a
settlement to accept for the Class in the action. The lead plaintiff will be
selected from among applicants claiming the largest loss from investment in
the Company during the Class Period.
The complaint accuses the defendants of violations of the Securities Exchange
Act of 1934 by virtue of the defendants trading on, and profiting from,
material, non-public information related to disappointing clinical trial
results for the drug bapineuzumab (AAB-001), an Alzheimer's disease treatment
that was being jointly developed by Wyeth and Elan Corporation, plc, during
the week before the presentation of the detailed results of the clinical trial
at a July 29, 2008 conference. According to the complaint, defendants avoided
approximately $40.4 million in losses on their long positions and secured a
$16 million profit from the short positions opened the week before the July
29, 2008 disclosure of detailed results of the clinical trial for
bapineuzumab, and investors buying Wyeth shares during that time were damaged
under the Federal securities laws.
If you choose to retain counsel, you may retain Brower Piven without financial
obligation or cost to you, or you may retain other counsel of your choice. You
need take no action at this time to be a member of the class.
Brower Piven, A Professional Corporation
Charles J. Piven, 410-415-6616
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