Rochester,NY 8/9/2009 1:14:39 AM
Pfizer Inc.PFE-Wyeth, Pfizer to resolve Shareholder Lawsuits Over acquisition
Pfizer Inc.
Pfizer Inc. (PFE) and Wyeth (WYE) have come to terms to settle shareholder lawsuits that sought to call off the drug makers' merger agreement, Wyeth said Thursday.
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In a regulatory filing, Wyeth said lawsuits looking for class-action status were enrolled in the Delaware Court of Chancery and in federal and state court in New Jersey against Wyeth and members of its board of directors. The suits searched out to invalidate Wyeth's January agreement to be acquired by Pfizer in a cash-and- stock deal then estimated at about $68 billion.
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