Pfizer Inc, an American multinational pharmaceutical giant, recently disclosed during its fourth-quarter results that it agreed to pay $400 million to ward off a class action lawsuit accusing the corporation of misleading investors regarding off-label marketing.
The lawsuit, filed in 2010, accused Pfizer and several of its executives of making false statements to shareholders about its off-label marketing of products, including Bextra and other drugs. Pfizer's executives had been pushing the promotion of these drugs for uses that the Food and Drug Administration had not approved.
The lawsuit also claimed that Pfizer made misleading statements about several government investigations of previous practices that led to a $2.3 billion settlement with the U.S. Justice Department in 2009. Click here to read the full story.
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