Law Offices of Howard G. Smith Announces Investigation of CR Intrinsic Investors, LLC

Law Offices of Howard G. Smith announces that it is investigating potential claims against CR Intrinsic Investors, LLC, on behalf of investors who purchased the common stock of Wyeth (formerly NYSE:WYE) between July 21, 2008 and July 29, 2008. The investigation focuses on possible violations of federal securities laws.

The investigation is related to allegations that CR Intrinsic Investors, LLC and certain of its affiliates including SAC Capital Associates, LLC and SAC Capital Advisors, L.P. violated the securities laws by trading Wyeth shares based on material, non-public information ahead of a July 29, 2008 announcement disclosing disappointing clinical trial results for the drug bapineuzumab (AAB-001) (“bapi”). Bapi was an Alzheimer’s disease treatment that was being jointly developed by Wyeth and Elan Corporation, plc.

On June 17, 2008 Wyeth released top-line summary results from the Phase 2 clinical trial of bapi. The market’s reaction was favorable, and Wyeth’s common stock rose 10.7% after the announcement. Detailed trial results were to be released at a conference on July 29, 2008. Shortly before the conference, CR Intrinsic Investors, LLC and certain of its affiliates began aggressively selling their positions in Wyeth, and over the seven trading days leading up to the July 29, 2008 announcement completely liquidated their positions in Wyeth worth over $335 million and opened large short positions in Wyeth.

On July 29, 2008, after the close of the U.S. securities markets, the detailed Phase II clinical results of bapi were presented. The results of the Phase II clinical trial were strongly and unexpectedly negative. On July 30, 2008, the next trading day, Wyeth’s share price fell 41.8% from its prior close on July 29th.

If you purchased Wyeth shares between July 21, 2008 and July 29, 2008, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at [phone], Toll Free at [phone], or by email to [e-mail], or visit our website at http://www.howardsmithlaw.com.