Rezulin Case Denied Class-Action Status

Pfizer Inc. said a California judge denied class-action status to a lawsuit claiming that advertising for the Rezulin diabetes drug misled consumers about its health risks.

Los Angeles Superior Court Judge Ann Kough concluded there were not enough common claims among more than 200,000 Rezulin users in California to let them pursue the false-advertising suit as a class-action case, Pfizer said. Consumers across the country have filed suits contending that Rezulin caused fatal damage.

Shares of New York-based Pfizer rose 13 cents to $40.13 in NYSE trading.