Class Period: May 21, 2007 to Jul 29, 2008
Lead Plaintiff Deadline: Aug 30, 2010 + Deadline passed
Summary of Case:
A securities class action has been filed against Wyeth (WYE) (the "Company") on behalf of all securities purchasers from May 21, 2007 through July 29, 2008, inclusive ("Class Period"), in the United States District Court of New Jersey.
The complaint alleges that Defendants concealed material information and made false and misleading statements relating to Wyeth's most important pipeline drug, bapineuzumab, also known as AAB-001 (hereafter, "B-Mab"), which had the effect of allegedly artificially inflating the price of Wyeth securities during the Class Period. In particular, Defendants allegedly improperly touted the success of clinical trial results relating to the safety and efficacy of B-Mab -- a potential billion-dollar-a-year Alzheimer's drug -- even though they had seen the preliminary results, and thus had knowledge that the trial was an abject failure, missing all clinical endpoints and demonstrating serious safety concerns.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.