A federal judge has refused to dismiss a class action suit accusing Pfizer Inc. of securities fraud for failing to disclose relevant data from a study it conducted about its arthritis drug Celebrex.
U.S. District Judge Anne Thompson of the District of New Jersey held Monday that a 2001 article in The Washington Post revealing the alleged concealment of the study data “may have raised the possibility that defendants acted with scienter, thus prompting a reasonable person to begin investigating,” but did not “establish a strong inference that defendants acted with the requisite intent.”
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