Brower Piven Encourages Investors Who Have Losses in Excess of $1,000,000 From Investment in Wyeth to Inquire About the Lead Pla
10 Juli 2010 - 9:32PM
Marketwired
Brower Piven, A Professional Corporation announces that a class
action lawsuit has been commenced in the United States District
Court for the District of New Jersey on behalf of purchasers of the
common stock of Wyeth ("Wyeth" or the "Company") (NYSE: WYE) during
the period between May 21, 2007 and July 29, 2008, inclusive (the
"Class Period").
No class has yet been certified in the above action. Members of
the Class will be represented by the lead plaintiff and counsel
chosen by the lead plaintiff. If you wish to choose counsel to
represent you and the Class, you must apply to be appointed lead
plaintiff no later than August 30, 2010 and be selected by the
Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement and how much of a settlement to accept for the Class in
the action. The lead plaintiff will be selected from among
applicants claiming the largest loss from investment in the Company
during the Class Period. You are not required to have sold your
shares to seek damages or to serve as a Lead Plaintiff. You may
contact Brower Piven (through hoffman@browerpiven.com or
410/415-6616) to answer any questions you may have in that
regard.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the Company, during
the Class Period, concealing material information and making false
and misleading statements relating to Wyeth's most important
pipeline drug, bapineuzumab, also known as AAB-001 (hereafter,
"B-Mab"), including by improperly touting 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. According to the complaint,
when the full truth about the B-Mab clinical trial was revealed by
the Company on July 29, 2008, the value of Wyeth shares declined
significantly.
If you have suffered a net loss for all transactions in Wyeth
common stock during the Class Period, you may obtain additional
information about this lawsuit and your ability to become a lead
plaintiff by contacting Brower Piven at www.browerpiven.com, by
email at hoffman@browerpiven.com, by calling 410/415-6616, or at
Brower Piven, A Professional Corporation, 1925 Old Valley Road,
Stevenson, Maryland 21153. Attorneys at Brower Piven have combined
experience litigating securities and class action cases of over 40
years. If you choose to retain counsel, you may retain Brower Piven
without financial obligation or cost to you, or you may retain
other counsel of your choice. You need take no action at this time
to be a member of the class.
CONTACT: Charles J. Piven Brower Piven, A Professional
Corporation Stevenson, Maryland 410/415-6616 Email Contact
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