The In re Pfizer ERISA Litigation Consolidated Class Action ERISA Complaint was filed in the United States District Court for the Southern District of New York on behalf of Plaintiffs and a class (the "Class") of all persons who were participants in or beneficiaries of the Pfizer Savings Plan (including its predecessor, successor and affiliated plans, including the Pharmacia Savings Plan, the Warner-Lambert Savings and Stock Plan and the Searle Puerto Rico 1165(e) Savings Plan) ("the Plan") between August 29, 2000 and December 9, 2005 (the "Class Period").
The Consolidated Complaint alleges that during the Class Period, the Defendants breached their fiduciary duties to Plaintiffs and the Class members by:
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failing to prudently and loyally manage the Plan's assets;
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failing to provide participants with complete and accurate information regarding Pfizer stock sufficient to advise participants of the true risks of investing their retirement savings; and,
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failing to properly monitor the performance of their fiduciary appointees, and remove and replace those whose performance was inadequate.
On March 20, 2009, the Honorable Judge Laura T. Swain entered an Opinion and Order denying Defendants’ motion to dismiss the Consolidated Class Action Complaint while granting dismissal of certain limited claims. A copy of the Opinion and Order is available by clicking here.
Not all claims were brought against every Defendant. Please contact us for more information.
Pfizer_OpinionOrderReGrantMTDInPart032009.pdf 
