SOURCE: Brower Piven, A Professional Corporation

May 16, 2010 13:01 ET

Brower Piven Encourages Investors Who Have Losses in Excess of $750,000 From Investment in Pfizer, Inc. to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the July 12, 2010 Lead Plaintiff Deadline

STEVENSON, MD--(Marketwire - May 16, 2010) -  Brower Piven, A Professional Corporation 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 purchasers of the publicly traded securities of Pfizer, Inc. ("Pfizer" or the "Company") (NYSE: PFE) during the period between July 20, 2005 and January 23, 2009, 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 July 12, 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 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's failure to disclose during the Class Period that they were engaged in an ongoing course of conduct designed to illegally promote the sale of Pfizer Inc. ("Pfizer" or the "Company") drugs, including Bextra, Geodon, Zyvox, and Lyrica that resulted in 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. According to the complaint, after, on January 26, 2009, Pfizer announced that it was paying $2.3 billion to resolve several ongoing investigations concerning the improper promotion of and kickbacks involving Bextra, Geodon, Zyvox, and Lyrica and after the cost of resolving these investigations became public, the price of Pfizer common stock declined significantly.

If you have suffered a net loss for all transactions in Pfizer, Inc. publicly traded securities during the Class Period (including shares or possibly calls purchased during, but not sold until after the end of the Class Period or possibly put options sold but not covered until after the end of the Class Period), you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at, by email at, 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 Information

    Charles J. Piven
    Brower Piven, A Professional Corporation
    Stevenson, Maryland
    Email Contact