NEW YORK, April 19, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who acquired Wyeth, now part of Pfizer, Inc. (NYSE:PFE) ("Wyeth" or "the Company") stock between July 21, 2008 and July 29, 2008.
For more information, click here: http://9nl.it/wyeth/.
The complaint alleges that defendants violated securities laws by trading on, and profiting from, material non-public information related to disappointing clinical trial results for the drug bapineuzumab (AAB-001), an Alzheimer's treatment that was being jointly developed by Wyeth and Elan Corporation, plc. According to the complaint, defendants avoided approximately $40.4 million in losses on their long positions and secured a $16 million profit from the short positions opened the week before the July 29, 2008 disclosure of detailed results of the clinical trial for bapineuzumab.
If you suffered a loss in Wyeth you have until June 11, 2013 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (877) 363-5972, or visit http://9nl.it/wyeth/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (866) 367-6510 www.zlk.comSource:Levi & Korsinsky, LLP