Wyeth - Securities Class Action

Company and Case Information

IMPORTANT INFORMATION | INDEX OF FILINGS | SEARCH

Home

Index of Filings

News and Press Releases

Filings

Decisions

Settlements

Litigation Activity Indices

Top Ten List

Annual/Quarterly Updates

Clearinghouse Research

Articles & Papers

Search

Related Sites

About Us

Local Rules

Sponsors

Register

_______________
Copyright (c) 2001
Stanford Law School

Wyeth Summary: The original complaint charges Wyeth and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Wyeth is a leading pharmaceutical company and maintains a large business in women’s health care products.

According to the complaint, from 2003 to 2006, Wyeth conducted Phase 3 clinical trials on its new drug, Pristiq for postmenopausal symptoms of hot flashes and night sweats. In June 2006, Wyeth announced that it had submitted a New Drug Application (“NDA”) to the Food and Drug Administration (“FDA”) for this indication. The complaint alleges that defendants’ statements regarding Pristiq were materially false and misleading when made because defendants concealed negative data regarding Pristiq’s hepatic and cardiovascular effects.

On July 24, 2007, Wyeth announced that it received an approvable letter from the FDA for Pristiq. In its letter, the FDA said that before the application could be approved, it would be necessary for Wyeth to provide additional data regarding the potential for serious adverse cardiovascular and hepatic effects associated with the use of Pristiq in this indication. The FDA requested that these data come from a randomized, placebo-controlled clinical trial of a duration of one year or more conducted in postmenopausal women. After the announcement of the FDA committee’s decision, Wyeth’s stock price dropped from $56 to $50.30 the next day.

On February 26, 2008, Judge Richard J. Sullivan granted the motion to appoint the Pipefitters Union Local 537 Pension Fund as Lead Plaintiff. On April 11, 2008, the lead plaintiff filed a Consolidated Class Action Complaint, naming additional officers as defendants in the action. On June 10, 2008, the defendants filed a motion to dismiss the Consolidated Class Action Complaint.

INDUSTRY CLASSIFICATION:
SIC Code: 2834
Sector: Healthcare
Industry: Biotechnology & Drugs

COMPANY/ISSUER NAME:	Wyeth
COMPANY/ISSUER TICKER:	WYE
COMPANY WEBSITE:	http://www.wyeth.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

City of Livonia's Employees' Retirement System, et al. v. Wyeth, et al.

COURT: S.D. New York	DOCKET NUMBER: 07-CV-10329
JUDGE NAME: Hon. Richard J. Sullivan
DATE FILED: 11/14/2007	SOURCE: Notice of Filing
CLASS PERIOD START: 01/31/2006	CLASS PERIOD END: 07/24/2007
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Coughlin Stoia Geller Rudman & Robbins LLP (Melville) 200 Broadhollow, Suite 406, Melville, NY, 11747 (voice) 631.367.7100, (fax) 631.367.1173, info@csgrr.com/ Coughlin Stoia Geller Rudman & Robbins LLP (San Diego) 655 West Broadway, Suite 1900, San Diego, CA, 92101 (voice) 619.231.1058, (fax) 619.231.7423, info@csgrr.com/ _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 2

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Complaint For Violation Of The Federal Securities Laws
Type: Complaint		Date on the document: 11/14/2007
Order Appointing Pipefitters Union Local 527 Pension Fund's As Lead Plaintiff And Approving Lead Plaintiff's Selection Of Lead Counsel
Type: Order Appointing LP/LC		Date on the document: 02/26/2008

REFERENCE COMPLAINT

City of Livonia's Employees' Retirement System, et al. v. Wyeth, et al.

COURT: S.D. New York	DOCKET NUMBER: 07-CV-10329
JUDGE NAME:
DATE FILED: 04/11/2008	SOURCE: Docket
CLASS PERIOD START: 06/26/2006	CLASS PERIOD END: 07/24/2007
TYPE OF COMPLAINT: Consolidated Complaint
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Coughlin Stoia Geller Rudman & Robbins LLP (Melville) 200 Broadhollow, Suite 406, Melville, NY, 11747 (voice) 631.367.7100, (fax) 631.367.1173, info@csgrr.com/ Coughlin Stoia Geller Rudman & Robbins LLP (San Diego) 655 West Broadway, Suite 1900, San Diego, CA, 92101 (voice) 619.231.1058, (fax) 619.231.7423, info@csgrr.com/ _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 2

DOCUMENTS FOR THE REFERENCE COMPLAINT
ECF Case - Consolidated Complaint For Violations Of The Federal Securities Laws
Type: Complaint		Date on the document: 04/11/2008
Order
Type: Order		Date on the document: 06/25/2009
U.S. District Court Civil Docket
Type: Docket		Date on the document: 11/19/2009
U.S. District Court Civil Docket
Type: Docket		Date on the document: 03/29/2010
U.S. District Court Civil Docket
Type: Docket		Date on the document: 09/29/2010
U.S. District Court Civil Docket
Type: Docket		Date on the document: 08/26/2011
U.S. District Court Civil Docket
Type: Other		Date on the document: 10/21/2011

OTHER DOCUMENTS

Case Name and/or Number:
Type:		Date on the document:

WARNING AND DISCLAIMER OF LIABILITY:
The information included on this Web site, whether provided by personnel employed by Stanford Law School or by third parties, is provided for research and teaching purposes only. Neither Stanford University, Stanford Law School, nor any of their employees, agents, contractors, or affiliates warrant the accuracy or completeness of the information or analyses displayed herein, and we caution all readers that inclusion of any information on this site does not constitute an endorsement of the truthfulness or accuracy of that information. In particular, this Web site contains complaints and other documents filed in federal and state courts, which make allegations that may or may not be accurate. No reader should, on the basis of information contained in or referenced by this Web site, assume that any of these allegations are truthful.

Go to Search page | Go to Case Index page | Back to Top

�