The Third Circuit has upheld dismissal of a New Jersey-based securities class action against a Pfizer subsidiary that allegedly kept secret the failings of an experimental Alzheimer’s disease treatment.
The plaintiffs fell short of making out claims that Wyeth Inc., in a joint venture with drugmaker Elan Corp., misled investors about the successfulness of the testing of the drug, bapineuzumab, by announcing that the process was advancing to the next stage.
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