Pfizer fails to end lawsuit over Bextra, Celebrex safety

March 28 Thu Mar 28, 2013 6:33pm EDT

March 28 (Reuters) - Pfizer Inc has failed to persuade a federal judge to dismiss a shareholder lawsuit accusing the company of fraudulently misrepresenting the cardiovascular risks associated with its Bextra and Celebrex pain-relieving drugs.

While dismissing some of the shareholders' claims, U.S. District Judge Laura Taylor Swain in Manhattan said it was premature to dismiss the entire case.

Swain said a reasonable jury could find that Pfizer intended to mislead shareholders through its disclosures about the drugs' safety.

The plaintiffs are led by the Teachers' Retirement System of Louisiana, and a class was certified on July 5, 2012.