Defendants Win Summary Judgment in Pfizer Securities Litigation
07.14.14
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On July 8, 2014, Judge Laura T. Swain in the Southern District of New York granted summary judgment for Pfizer and several individual defendants in In re Pfizer Securities Litigation. On May 21, Judge Swain had granted Defendants’ motion in limine to preclude the testimony of Plaintiffs’ damages expert, Daniel Fischel. While Plaintiffs sought leave to amend Fischel’s report, Defendants simultaneously sought summary judgment. The Court ruled that Professor Fischel’s supplemental report was untimely and inadequate and granted Pfizer’s motion on the basis that Plaintiffs could not prove loss causation and damages without expert testimony. We partnered on this case with Paul Weiss and DLA Piper and had a September 9 trial date.
The Simpson Thacher team includes Lynn Neuner, George Wang, Dan Stujenske, Rae Adams, Shannon McGovern, David Caldwell, Rachel Sparks Bradley and Marian Wasserman.