Established in 1849, Pfizer Inc. is a multinational pharmaceutical and biotechnology corporation.

According to a press release dated May 11, 2010, the Complaint alleges that at various times during the Class Period, Pfizer manufactured, marketed, and sold many types of drugs, including Bextra, an anti-inflammatory, Geodon, an anti-psychotic, Zyvox, an antibiotic, and Lyrica, an anti-epileptic drug. During the Class Period, Defendants misled investors by failing to disclose that they were engaged in an ongoing course of conduct designed to illegally promote the sale of Pfizer drugs, including Bextra, Geodon, Zyvox and Lyrica. By such conduct, Pfizer caused hundreds of millions of dollars in false or fraudulent claims to be submitted to several federal healthcare programs, thus exposing the Company to untold legal liability.

On January 26, 2009, Pfizer announced that it was paying $2.3 billion to resolve several ongoing investigations. These investigations included the improper promotion of and kickbacks involving Bextra, Geodon, Zyvox and Lyrica. After the cost of resolving these investigations became public, the price of Pfizer common stock declined from $17.45 at the previous trading day’s close to $15.65 on January 26, 2009.

On November 4, 2010, a summary Order appointing lead Plaintiff and lead Counsel was issued by the Court.

On December 06, 2010, a Consolidated Class Action Complaint for violations of the federal securities laws was filed by the lead Plaintiffs against the Defendants.

On April 15, 2011, a First Amended Consolidated Class Action Complaint for violation of the federal securities laws was filed by the lead Plaintiffs against the Defendants.

On August 10, 2011, the Court issued a summary Order denying the Defendant's Motion to Dismiss for reasons stated on the record at oral arguments.

On February 8, 2015, the parties entered into a Stipulation of Settlement. This Settlement was preliminarily approved by the Court on March 16. Final Judgment was entered on July 30.