Pfizer Agrees to $164M Celebrex Securities Class Action Settlement
By Matt O’Donnell
Pfizer, Inc. has agreed to pay $164 million to settle a shareholder class action lawsuit concerning its arthritis drug Celebrex.
Shareholders sued Pfizer in 2003 for violating federal securities law. Plaintiffs alleged in the Pfizer securities fraud class action lawsuit that from 200 to 2001, the drug maker misrepresented the clinical trials for Celebrex and misled investors by distorting study results to make Celebrex appear safer and better than rival pain killing drugs.
A district judge certified the Pfizer securities class action lawsuit in 2007, but later granted Pfizer’s motion to dismiss the case. The class action lawsuit was reinstated in 2009 by the 3rd Circuit and survived several motions by Pfizer to dismiss it once more.
The Celebrex class action lawsuit was scheduled to go to trial on October, 22, 2012, but Pfizer offered the $164 million class action settlement deal on October 5.
Celebrex is a Cox-2 inhibitor, a class of pain killers that includes Merck’s now-withdrawn Vioxx. Merck also faced a similar investor class action lawsuit over Vioxx safety disclosures, which resulted in a 2010 class action settlement.
The $164 million Pfizer shareholder settlement comes four years after Pfizer agreed to pay $894 million to settle numerous lawsuits related to Celebrex and Bextra, its other now-withdrawn painkiller, over concerns about cardiovascular risks.
The Pfizer Celebrex Shareholder Class Action Lawsuit Settlement case is Alaska Electrical Pension Fund, et al. V. Pharmacia Corporation, et al., Case No. 03-cv-01519, U.S. District Court for the District of New Jersey.
Were you a victim of stock fraud, securities fraud or investment fraud? You may have a case to file class action lawsuit against the parties responsible. Visit the Securities Fraud, Stock Fraud Investment Class Action Lawsuit Investigation for details.
Updated October 11th, 2012
All securities fraud class action and lawsuit news updates are listed in the Stocks & Securities section of Top Class Actions
Top Class Actions Legal Statement
Suing for unpaid wages in California: Recover unpaid overtime, back pay and more
April 2, 2026 | Legal News
6 thoughts onPfizer Agrees to $164M Celebrex Securities Class Action Settlement
I had a stroke about 3 months
ago. Can I join the law suit against pfazer
I was just told recently about this law suit and was diagnosed with dilated cardiomyopathy (Congestive Heart Failure) after MANY years of taking Celebrex. I would like to know if it is too late for me to join this class action. Thank you for your time. I’ve had many years of lost wages, medical bills, stress and being disabled from these meds.
i had a stroke with this product….
I had a stroke.on these drugs how do I file a claim
How.do I file a claim
I was a Pfizer stockholder during the time the time of this legal action and still own the stocks. I cannot find anything online regarding how to file a claim.