American Home Products Corporation (now Wyeth) Securities Litigation
On or around 12/01/2000 (Other)
Filing Date: September 18, 1997
According to the firm's 10-K filing dated 3/16/2001, in February 1999, the Oran case was dismissed with prejudice by the U.S. District Court for the District of New Jersey. In September 2000, that dismissal was affirmed by the United States Court of Appeals for the Third Circuit and the case has now been closed.
The original Complaint alleges that during the Class Period, AHP and certain of its directors and officers violated Sections 10 (b) and 20 (a) of the Securities Exchange Act of 1934 by making misrepresentations and omissions of material fact about the Company's financial condition and operations. Among other things, the complaint alleges that the defendants engaged in a scheme and course of conduct to defraud or deceive purchasers of the common stock of AHP by omitted and/or misrepresenting material information concerning the company's weight-loss drugs Redux (dexfenfluramine hydrochloride) and Pondimin (fenfluramine hydrochloride) while insiders were selling millions of dollars worth of their stock in the company.
Company & Securities Information
Defendant: American Home Products Corporation (now Wyeth)
Industry: Major Drugs
Headquarters: United States
Ticker Symbol: AHP
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Oran, et al. v. Stafford, et al.
COURT: D. New Jersey
DOCKET #: 97-CV-04513
JUDGE: Hon. Nicholas H. Politan
DATE FILED: 09/18/1997
CLASS PERIOD START: 03/01/1997
CLASS PERIOD END: 09/16/1997
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Goldstein Lite & DePalma LLC Two Gateway Center, 12th Floor, Goldstein Lite & DePalma LLC, NJ 07102 ·