Carella Byrne Files Suit Against Wyeth

Jun 29, 2010, 13:45 ET from Carella Byrne

ROSELAND, N.J., June 29 /PRNewswire/ -- Carella, Byrne, Cecchi, Olstein, Brody & Agnello P.C. ("Carella Byrne") today announced that a securities class action lawsuit was filed on June 18, 2010 in the United States District Court for the District of New Jersey, case number 2:10-cv-03105-SDW -MCA, on behalf of purchasers of Wyeth, Inc. ("Wyeth") common stock during the period between May 21, 2007 and July 29, 2008, inclusive (the "Class Period").  If you wish to serve as lead plaintiff, you must move the Court no later than August 30, 2010.  You need not seek to become a lead plaintiff in order to share in any possible recovery.

This action seeks damages for violations of Sections 10(b), 20(a), and 20A of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.  The defendants are Pfizer, Inc. ("Pfizer"), as successor-in-interest to Wyeth (now a wholly-owned operating subsidiary of Pfizer), Robert Essner (former Chairman and CEO of Wyeth), Bernard Poussot (former Chairman and CEO of Wyeth), Kenneth J. Martin (former CFO and Vice Chairman of Wyeth), Greg Norden (former CFO of Wyeth) and Robert R. Ruffolo, Jr. (former President, Wyeth Research and Senior Vice President, Wyeth) (collectively, "Defendants").  Prior to its acquisition by Pfizer, Wyeth was one of the world's largest pharmaceutical manufacturers.  This action alleges that Defendants concealed material information and made false and misleading statements relating to one of its drugs under development.  

Any member of the alleged class may seek to be appointed as lead plaintiff, even if that person has not filed a complaint, by complying with the relevant provisions of the Private Securities Litigation Reform Act of 1995 (the "PSLRA").  See 15 U.S.C. Section 78u-4(a)(2)(A)(i)-(iv).  The Plaintiff -- Security Police and Fire Professionals of America Retirement Fund -- seeks to recover damages on behalf of the class and is represented by Carella Byrne, a firm with strong background and experience in handling securities class actions and other complex commercial litigation.  If you have any questions about this Notice, the action, or your rights, please contact us at


James E. Cecchi, Esquire


SOURCE Carella Byrne