Pfizer

BLB&G obtains an historic package of corporate governance reforms for Pfizer shareholders in a derivative litigation relating to the company's illegal marketing practices. The settlement establishes a Regulatory and Compliance Committee of the Pfizer Board that will be supported by a dedicated $75 million fund - a provision viewed by experts as a potential industry standard for similar highly regulated public companies. It also provides for an Ombudsman Program for employees to address concerns about legal or regulatory issues, and requires extensive analysis of Pfizer's compensation structure to ensure there are no incentives for employees to engage in unlawful behavior.